The UK economy expanded more than expected in February, with the 0.5% growth exceeding initial forecasts of 0.1% growth. The main driving force behind the growth was due to both the services activity and industrial production both increasing by 0.5% each.
Construction also jumped by 1% which came as a surprise considering the unexpected wet weather in February.
The strong February performance has likely pushed first quarter GDP to 0.6% which again would come in higher than the initial projected 0.3% growth.
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