Brexit stockpiling supports 0.3% GDP growth: ONS

This is slightly higher than the 0.2% growth seen between October and December 2018 and is  unchanged from January's upwardly-revised figure.

On a monthly basis, GDP grew by 0.2% in February, following growth of 0.5% in January and a 0.3% fall in December.

The monthly rise was helped by growth in the services and production sectors, while construction had a negative contribution.

Industrial production increased by 0.6% during February while manufacturing rose by 0.9%, which some economists have attributed to 'Brexit stockpiling'.

The ONS noted that output in production and manufacturing has risen for the second month in a row, "the latter driven by domestic demand". Manufacturing is now at its highest level since April 2008.

The ONS said it has seen external evidence that "some manufacturing businesses have changed the timing of their activity" as the original Brexit deadline approached.

In its research, the ONS said it found "some qualitative evidence that supported this view but were unable to quantify its impact".

Head of GDP at the ONS, Rob Kent-Smith, said: “GDP growth remained modest in the latest three months. Services again drove the economy, with a continued strong performance in IT.

“Manufacturing also continued to recover after weakness at the end of last year with the often-erratic pharmaceutical industry, chemicals and alcohol performing well in recent months.”

Clive Docwra, managing director of construction consulting and design agency McBains, commented: “Given the continuing “will-we, won’t we” saga of when the UK will be leaving the EU, today’s figures buck the trend we were expecting. However, although there was moderate growth in February, the general trend is of slowing growth since mid-2018.

“Indeed, the long term outlook is even gloomier as a weak UK economy, volatile pound and worries over the long term impact of Brexit mean caution from investors is the watchword, as evidenced by a fall in private commercial new work. We expect that will translate into a continued, more serious, contraction for the sector over the coming months.”