Preliminary estimates from the UK’s Office for National Statistics show that the UK’s gross domestic product (GDP) rose by 0.2% in the three months to January, following growth of 0.1% in the three months to December. There was no monthly growth in January, after a 0.1% increase in December, while expectations were for 0.2% growth.

The services sector, which accounts for more than 70% of the UK economy, grew by 0.2% in the three months to January, but showed no growth in January. The construction sector grew by 0.2% in January, but fell by 2.0% in the three months to January. Productive output fell by 0.1% in January, but rose by 1.3% in the three months to January.