Economics
U.K. Economy Unexpectedly Shrank Before Virus Restrictions Hit
- GDP falls 0.1%, putting economy on course for 1Q contraction
- Construction activity hit by wettest February on record
April 6: HSBC Says U.K. Is Cheap, Sees Pound Rising by Year End
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The U.K. economy unexpectedly contracted in February, putting it on an unsteady footing even before the nation imposed more stringent restrictions to contain the coranavirus.
GDP fell 0.1% from January, with the downturn driven by a huge drop in construction, the Office for National Statistics said Thursday. In the three months through February, growth stood at 0.1%.