The UK economy inched ahead by just 0.1% in February as torrential rain hit the construction industry.
Latest GDP figures from the Office for National Statistics (ONS) suggest that Britain is still stuck in a pattern of slow growth.
But it has at least escaped from the recession of the second half of last year with growth in two consecutive months for the first time since last September.
Growth in January has also been upgraded by the ONS from 0.2% to 0.3%.
A recession is defined as two consecutive quarters of contraction, and the UK achieved this in the third and fourth quarters of 2023 when GDP fell by 0.1% and 0.3% respectively.
Today’s figures, which was in line with City forecasts, show that the dominant services sector, which accounts for around 80% of output, grew by 0.1% in February, while production sector, which includes manufacturing advanced by 1.1%.
However, the construction sector took a 1.9% tumble. The ONS said anecdotal evidence suggested “negative effects of heavy rainfall delaying planned work and decreasing output. It was the fourth wettest February on record in England and the southern half of the country saw more than twice its average rainfall.
Chancellor of the Exchequer Jeremy Hunt said: “These figures are a welcome sign that the economy is turning a corner, and we can build on this progress if we stick to our plan.
“Last week our cuts to National Insurance for 29 million working people came into effect across Britain, as part of our plan to reward work and grow the economy.”
