UK’s domestic product failed to achieve any significant growth in February due to strikes, after recording a rise of 0.4 percent in the previous month.

Britain’s economy recorded growth of 0.0 percent in February as a wave of public sector strikes weighed on activity, offsetting a recovery in consumer spending despite the cost of living crisis.

The latest figures from the Office for National Statistics (ONS) show the economy ground to a halt in February, falling below City expectations for a 0.1 percent month-on-month rise in gross domestic product (GDP), the total value added by the production of goods and services across the economy.

Meanwhile, the Office of Budget Responsibility (OBR) confirmed last March that the UK gross domestic product (GDP) will record a general decline of 0.2 percent in 2023, a decline in living standards by the largest value ever recorded.

Source: Kuwait News Agency