Positive shock for the British economic system: the GDP in February grew by 0.5%, along with the forecasts, in keeping with the information launched this morning by the National Statistics Office (ONS). Economists’ estimates had been +0.1%, after the -0.1% recorded in January.
Good information for the gate of the chessboard, which outlined the information “an encouraging sign”. However, Rachel Reeves added that we should not “rest on the laurels”, however “go further and relaunch the growth to give safety to workers and more money in their pockets.”
The chancellor is aware of that the street guarantees to be all uphill and that the expansion introduced right this moment will have the ability to proceed within the coming months. This is for 2 causes: on the one hand the detrimental influence of the ten% duties imposed by the United States in Great Britain and the industrial struggle in progress with China on client belief and investments, and on the opposite the will increase in taxes, principally borne by firms, which happened in April with the start of the British tax yr, along with will increase within the payments.
In February, all of the sectors of the economic system grew, in keeping with the ONS, building and industrial manufacturing additionally after a interval of flexion. The essential providers sector stays robust, particularly telecommunications, electronics and know-how.
The ONS additionally revised upwards the information on the January GDP, bringing it from -0.1% to zero. The British economic system has recorded the optimistic signal just for 4 of the previous couple of months, and stays weak.
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