The UK GDP growth surprised analysts by expanding 0.5% month-on-month in February, surpassing the consensus forecast of 0.1%. Additionally, revisions to January's figures suggest a positive outlook for Q1 2024. Manufacturing emerged as a key sector driving this unexpected growth, rebounding from previous declines in early 2024. However, this economic boost came just before new trade policies and increases in household and business expenses take effect, leading Cebr to predict that weak economic momentum may continue into 2025 before recovery begins in 2026.
UK GDP growth reached an unexpected 0.5% month-on-month in February, significantly exceeding forecasts, indicating potential solid growth for Q1 2024.
Manufacturing played a crucial role in this growth, reversing previous downward trends seen earlier in 2024, suggesting a temporary lift in economic activity.
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