UK Economy Sees Unexpected Growth in February

The UK economy experienced a faster-than-expected growth of 0.5% in February, according to official figures. The Office for National Statistics (ONS) also revised its estimate for January, reporting a 0.1% growth after initially stating that the start of the year saw no growth.

The latest figures predate the outbreak of the US-Israeli war with Iran on 28 February, an event that has triggered a significant energy shock. Experts caution that a prolonged conflict risks precipitating a global recession.

This week, the International Monetary Fund (IMF) downgraded its estimate for UK growth this year, warning that the country is set to be the hardest hit among the world's advanced economies.