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UK economic growth slows sharply in February - Perthshire Chamber of Commerce

UK economic growth slows sharply in February

The UK's economic growth slowed in February following a sharp fall in the production of cars and computer goods.

The Office for National Statistics (ONS) said the economy expanded by 0.1% compared with 0.8% in January.

The fall in manufacturing was off-set by growth in the services sector including areas such as tourism and travel.

The ONS also said that the UK economy is 1.5% above its pre-coronavirus pandemic level in February 2020.

Economists had been expecting gross domestic product (GDP) - which measures activity in services, construction and industrial production - to grow by 0.3% in February following the lifting of most Covid restrictions in England at the end of January.

The ONS said the fall in industrial production was due to a 5.4% drop in the manufacture of transport equipment "driven entirely by the fall in manufacture of cars".

It added that production of computer and electronic products had fallen in February.


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