The UK economy grew far more than expected in the month before war in Iran began, latest official figures show.
February saw a return to growth as gross domestic product (GDP), the standard measure of an economy’s value and everything it produces, rose by 0.5% compared to January, according to data from the Office for National Statistics.
There had been a surprise contraction in the first month of the year.
February’s growth was down to expansion in the largest part of the economy: services.
In particular, wholesaling, market research, hospitality, and publishing all performed well in the three months to February, said the ONS’s chief economist, Grant Fitzner.
The government has repeatedly said its number one priority is economic growth but the rises in GDP have been slight.
It may be the last period of growth for some time.
Despite the current two-week ceasefire, the Iran war is forecast to hit the UK economy more than others.
Britain’s economic prospects had been downgraded more than any other major economy in the International Monetary Fund’s latest update on the state of the world.
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