UK economy grows in Feb, shows signs of exiting recession

Britain’s economic output grew by 0.1 percent in monthly terms in February and January’s reading was revised higher, pointing to an exit from recession in early 2024, figures from the Office for National Statistics showed on Friday.

Economists polled had forecast a 0.1 percent month-on-month expansion of gross domestic product.

January’s reading was revised to show an expansion of 0.3 percent, up from 0.2 percent earlier.

Britain’s economy entered a shallow recession in the second half of last year, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year.