UK economy grew slightly in February official figures show

The UK economy “showed some improvement” in February after growing by 0.4%, according to official figures.

However, the Office for National Statistics said the economy was still 7.8% smaller than a year earlier, before the impact of the coronavirus pandemic.

Coronavirus restrictions remained in place to varying degrees across all four nations of the UK throughout January and February.

Goods exports to the EU partially rebounded in February after a record slump at the start of the year, the official figures show.

The ONS said sales to the bloc rose by £3.7bn, or 46.6%, having fallen by £5.7bn, or 42%, in January.

However imports from the EU, which also saw an unprecedented decline at the start of the year, recovered less than a fifth of the lost trade.

Britain’s trading with the rest of the world at the start of this year has been affected by additional red tape and costs following the end of the Brexit transition period, with COVID-19 restrictions and wider global economic trends also having an impact.

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