UK economy beat expectations and surprisingly grew

• The UK economy grew by a better-than-expected 0.5 per cent in February, according to the Office for National Statistics (ONS).
• This growth follows an upward revision of January's figures to 0.1 per cent, exceeding most economists' predictions for February.
• Despite the positive short-term data, the UK's economic prospects for the year are dampened by the potential impact of the Iran war and rising energy costs.
• The International Monetary Fund (IMF) recently downgraded its UK growth forecast for 2026 to 0.8 per cent, a substantial reduction from 1.3 per cent, representing the largest downgrade among G7 countries.
• Some forecasts indicate that Britain could be heading for 'stagflation' as energy prices climb and inflation increases due to the conflict in Iran.

IN FULL

UK economy grew faster than expected before Iran war