While the economy has proved more resilient than some feared, the overall picture is one of stagnation, with official figures released on Thursday showing there was an unexpected zero growth in GDP in February.
Output in the education sector dropped by 1.7% month-to-month, subtracting 0.10 percentage points from growth in GDP.
In the public administration and defence sector, it fell by 1.1%, subtracting 0.06 percentage points from GDP.In the private sector, output rose by 0.2% in the month as mild weather boosted output in the construction, hospitality and entertainment sectors. These figures are a big departure from 20 years ago when Britain enjoyed growth of between 2-3 per cent a year.
Instead, we can expect the economy to shrink by 0.3 per cent this year, if recent forecasts by the International Monetary Fund are to be believed. This will make Britain the
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