People browsing stalls along Portobello Road Market on Feb. 22, 2025, in Notting Hill, West London.
Mike Kemp | In Pictures | Getty Images
The U.K. economy grew by a higher-than-expected 0.5% month-on-month in February amid a jump in the services output, official data showed on Friday.
Analysts had projected a monthly gross domestic product hike of 0.1% in February, according to LSEG data.
The Office for National Statistics, which published the provisional figures, said a 0.3% expansion in the services sector had driven the surprise jump in growth.
The British pound jumped against the dollar after the data release, rising 0.2% against the greenback to trade at $1.2988 by 7:18 a.m. in London.
In January, an early estimate showed the U.K. economy unexpectedly shrank by 0.1% on a monthly basis. That figure was later revised upward to show that economic growth was flat in January.
Friday’s figures are released as the U.K. braces for the economic impact of new 10% tariffs on its exports to the United States.
This breaking news story is being updated.
