UK economic growth slows amid declines in manufacturing
The Canadian PressEconomy Government Manufacturing
LONDON (AP) – Britain’s economic growth slowed in February amid declines in the production of cars, computers and chemicals.
Gross domestic product increased just 0.1% from a month earlier, down from the 0.8% growth reported in January, the Office for National Statistics said Monday.
The output of productive industries, including manufacturing, mining and power generation, dropped 0.6% in the month. Construction fell 0.1%. Those declines largely offset an increase in service industries, driven by an 8.6% jump in accommodation and food services.
Monthly GDP is now 1.5% above pre-pandemic levels, the ONS said. While services output is 2.1% higher than in February 2020. Construction is up 1.1%, while manufacturing and production are 1.9% below pre-pandemic levels.
Service industries account for about 80% of the U.K.’s economic output.