UK economy grows faster than expected ahead of Brexit
April 11, 2019 5:09 am
Stockpiling by manufacturers ahead of Brexit helped the UK economy grow by 0.3% in the three months to February.
The Office for National Statistics pointed to manufacturers “changing the timing of their activities” as the UK’s exit from the EU approaches.
Although growth was stronger than the 0.2% many economists forecast, Rob Kent-Smith, head of GDP at the ONS, said growth “remained modest”.
On a monthly measure, the economy grew by 0.2%, faster than the 0% forecast.
The 0.3% rise in the three months to February, was the same as the three months to January, after previous estimate was revised higher.
“Services again drove the economy, with a continued strong performance in IT. Manufacturing also continued to recover after weakness at the end of last year with the often-erratic pharmaceutical industry, chemicals and alcohol performing well in recent months,” said Mr Kent-Smith.