The UK economy barely grew in February amid weaker car production and the reduction of Covid-19 testing and vaccination programmes.
The GDP print of 0.1% higher was weaker than City forecasts for an increase of 0.3% and represents a sharp slowdown from 0.8% growth seen in January. The Office for National Statistics notes that the UK economy is 1.5% above its pre-pandemic level.
The release sets a downbeat tone at the start of a big week for economic updates, with US inflation set to top 8% on Tuesday and the UK equivalent likely to be near 7% on Wednesday.
