By Peter McLaren-Kennedy • 11 April 2022 • 9:58
The UK economy grew just 0.1 percent in February
The figure fell well short of the 0.3 percent predicted by economists with growth having slowed sharply despite the return to normal life. Although the economy is now 1.5 percent bigger than it was prior to the pandemic, the Office for National Statistics (ONS) figures show that manufacturing output fell by 0.6 percent and construction by 0.1 percent.
According to the ONS the slow growth was down to the impact of the trio of storms that swept the country and the reduction in the NHS Test and Trace and vaccination programmes. The latter in particular made a strong contribution to GDP at the start of the year, according to Darren Morgan, Director of Economic Statistics at the ONS.
The ONS report said: “Most of those reporting a negative impact were in service industries with comments received from businesses operating in areas including accountancy, leisure parks and holiday centres, photography, hairdressing and beauty, leasing of construction equipment, restaurants and takeaways, and marquee hire.
“However, some businesses reported a positive impact on turnover such as those working in fencing, torch sales, and temporary off-grid power.”
Forecasts for the UK economy in March are expected to see a return to expected growth levels with the war in Ukraine, the improved weather and the removal of all pandemic restrictions all likely to play a part.
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Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news.
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