Compared to our previous GDP tracker, published in April, we observed that February’s GDP growth have now revised up to 0.2 per cent (originally 0.1 per cent) following a growth of 0.3 per cent in January. We noted that this consecutive growth coupled with March’s 0.4 per cent growth signals the UK’s exit from the shallow technical recession experienced in the second half of 2023. This growth was mainly driven by increasing output in the services sectors, particularly in transportation and storage sector. Based on this momentum alongside higher-frequency data, we forecast GDP to grow by 0.6 per cent in the second ... (full story)