UK Economy Update 2026: GDP Growth Supported by Services Sector

Note: This section contains information in English only.
Source: Dukascopy Bank SA
According to the Office for National Statistics, the UK economy grew modestly in early 2026. GDP increased by 0.5% in the three months to February compared to the previous three-month period, and was 0.8% higher than a year earlier. Monthly growth was steady, with GDP rising 0.5% in February after increases of 0.1% in both January and December.



Services were the main driver of growth, rising 0.5% over the three months and also 0.5% in February alone. Areas like retail, transport, and information services performed especially well, with wholesale trade making the biggest contribution. Production grew faster, up 1.2% over the three-month period. This was largely due to strong gains in energy supply and manufacturing, especially transport equipment, which rebounded after earlier disruptions. Production also increased 0.5% in February.

Construction was the only weak spot, falling 2.0% over the three months, mainly because of a drop in new housing work. However, it showed some recovery in February with a 1.0% increase.

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