US adds 311,000 jobs in February; UK economy returns to growth; regulators take over Silicon Valley Bank – as it happened

UK economy has proved more resilient than many expected' says chancellor Jeremy Hunt, while problems at Silicon Valley Bank knock FTSE 100 down 2%

• Full story: UK economy staged modest recovery in January

Children returning to school after an illness-ravaged December helped the economy to grow in January.

School attendance levels returned to normal levels following a significant drop in December 2022, the ONS says.

Across the last three months as a whole and, indeed over the last 12 months, the economy has, though, showed zero growth.

The main drivers of January's growth were the return of children to classrooms, following unusually high absences in the run-up to Christmas, the Premier League clubs returned to a full schedule after the end of the World Cup and private health providers also had a strong month.