UK economy ‘at risk of stalling’ after February slowdown; growth worries hit oil – as it happened
by Graeme Wearden from on (#5Y1S2)
Rolling coverage of the latest economic and financial news
- Latest: Russia threatens legal action if forced into default
- Economists warn of risk of UK contraction
- Full story: UK economy slows more than expected as car production slumps
- Details: UK GDP rose just 0.1% in February despite travel recovery
- Industrial output fell as car factories strugged to obtain parts
- Health spending down as vaccine boosters and test and trace declined
On the GDP figures, chancellor of the exchequer, Rishi Sunak said:
I welcome the positive growth seen across the economy in February, which continues to recover from the pandemic, boosted by the support we provided.
Russia's invasion of Ukraine is creating additional economic uncertainty here in the UK, but it is right that we are responding robustly against Putin's unprovoked invasion.
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