Forex News

UK Economy Stagnates as GDP Remains Unchanged in February

Published by
Nonhlanhla P Dube

The UK’s Gross Domestic Product (GDP) monthly release for February was announced on Thursday, revealing that the country’s economy had remained stagnant at 0%. This result fell below expectations, which had anticipated a 0.1% increase in economic growth. The figure was also lower than the previous reading of 0.3%.

Meanwhile, the Index of Services for February showed a 0.1% increase in 3-months-on-3-months data, beating the estimated -0.2% and previous 0% readings. The index tracks the performance of the UK’s service sector, which accounts for almost 80% of the country’s GDP.

Understanding UK GDP

The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. In the case of the UK, the GDP is released by the National Statistics and is considered a broad measure of the country’s economic activity. A rising trend in GDP is typically seen as a positive indicator of economic growth and is closely monitored by investors and policymakers.

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

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Published by
Nonhlanhla P Dube
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