UK’s economic growth has slowed due to manufacturing declines

Britain’s economic growth slowed in February due to losses in the manufacturing of automobiles, computers, and chemicals.

The Office for National Statistics said Monday that gross domestic product climbed by only 0.1 percent from the previous month, well below the 0.8 percent rise reported in January.

Last month, the output of productive industries, which includes manufacturing, mining, and power generation, fell by 0.6 percent.

The construction industry’s declined by 0.1 percent. These declines more than offset a gain in the service sector, which was driven by an 8.6 percent increase in lodging and food services.

Monthly GDP is currently 1.5 percent higher than it was prior to the epidemic, according to the ONS.

While service output is up 2.1 percent from February 2020, construction was at pre-pandemic levels and has increased by 1.1 percent, but manufacturing and production are down by 1.9 percent.

The service industries account for over 80% of the UK’s economic output.

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