The UK economy grew more strongly than expected in February. “Pre-Brexit’ stockpiling appears to be providing a boost to the monthly rate of economic growth.
The Office for National Statistics (ONS) has released data on the “Official gross domestic product” (GDP). It has revealed that the economy expanded by 0.2% in February.
A key factor behind this stronger than anticipated performance. However, performance relates to manufacturers’ stockpiling activity. So, although ONS does not collect specific data on this area, the survey evidence suggests some manufacturers changed the timing of their activities.
As the UK’s original planned departure date for leaving the EU approached, it is conceivable it was done in order to minimise any potential disruption to supply chains in the event of a no-deal Brexit.
