UK economic system grew by 0.5% in February in increase to Rachel Reeves

The UK economy grew by 0.5 per cent in February in a boost to Labour following several months of almost flatlining, with the Office for National Statistics pointing to “widespread growth” across multiple sectors.

Commenting on today’s GDP figures for February, ONS director of economic statistics Liz McKeown said: “The economy grew strongly in February with widespread growth across both services and manufacturing industries.

“Within services, computer programming, telecoms and car dealerships all had strong months, while in manufacturing, electronics and pharmaceuticals led the way and car manufacturing also picked up after its recent poor performance.

“Across the last three months as a whole, the economy also grew strongly with broad-based growth across services industries.”

In response, the Conservative party played down the figures and pointed to perceived missteps from the Labour government previously.

Mel Stride MP, shadow chancellor of the exchequer, said: “Since coming to office, Labour’s choices have killed growth stone dead and there is still a long way to go to recover.

“At the emergency budget, the forecasts for growth, inflation and borrowing all moved in the wrong direction because of Labour’s decisions.

“Hardworking families deserve better than a Government crowing about sluggish growth whilst they will be £3,500 worse off because of the Jobs Tax.”

The latest UK inflation figures will be announced on 16 April, with the next Bank of England meeting to discuss potential interest rates cuts coming on 8 May.

In the US, inflation fell by more than expected to 2.4 per cent in March, as the country prepares to deal with the impact of Donald Trump’s back-and-forth tactics on tariffs.

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