UK economy shows no growth in February – ONS

People walk on Oxford Street in London, Britain April 10, 2023. REUTERS/Anna Gordon/File photo

LONDON  – Britain’s economy failed to grow as expected in February but a bounce in January was stronger than first thought, official data showed on Thursday.

The Office for National Statistics (ONS) said economic output was flat in month-on-month terms in February.

A Reuters poll of economists had pointed to growth of 0.1 percent.

The ONS revised January’s monthly economic growth up to 0.4 percent from a previous estimate of 0.3 percent.

Output from the vast services sector contracted by 0.1 percent in February, hurt by strikes, but was offset by a surge in construction output, the ONS said.