Treasurer Jeremy Hunt said the economy was looking “looking brighter than expected.”
, potentially setting the stage for an election next spring.
A contraction of 0.6 per cent would be required for GDP to fall 0.1 per cent on the quarter, as forecast by the Bank of England. That would be a bigger fall than in December, when consumer sentiment was weaker and the country suffered the most days lost due to strikes since 2011.“While a flat economy is not usually grounds for celebration, there are some encouraging signs in today’s data,” said Kitty Ussher, chief economist at the Institute of Directors.
“Growth in the UK is stagnating and has fallen behind its developed market peers,” he said. “We expect the UK to continue to underperform the other G-7 economies for the time being, however we acknowledge that the short-term global economic outlook has materially improved in the past couple of months.”
, with teachers in England staging a national walkout on February 1 in their dispute over pay and regional strikes on other days. Other action involved rail workers, university staff, nurses, paramedics and civil servants.Public administration was the second largest contributor, falling by 1.1 per cent in February 2023. This industry also saw industrial action take place within the civil service during February 2023.
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