LONDON, April 12 (Xinhua) -- Real gross domestic product (GDP) of the United Kingdom (UK) is projected to have increased by 0.1 percent in February on a monthly basis, according to the country's national statistics authority on Friday.
The growth follows the revised 0.3 percent monthly GDP increase in January. The Office for National Statistics (ONS) has reported that real GDP expanded by 0.2 percent in the three months leading up to February 2024, compared to the three months ending in November 2023.
The ONS highlighted that production was the primary contributor to GDP growth. After a 0.3 percent decline in January, production grew by 0.7 percent in the three months to February in areas such as the car industry.
The recent growth is seen as a positive sign by the UK government, indicating that the economy is "turning the corner."
British Finance Minister Jeremy Hunt stated that the government will maintain this progress by sticking to its economic plan.
However, Roger Barker, director of policy at the Institute of Directors, suggested that the UK's economic recovery remains fragile, particularly with the services industry, such as hotels and hospitality, still facing challenges. ■