UK economy fails to grow as expected in February
Strikes hit output in public sector services
January GDP growth revised up, meaning Q1 contraction unlikely
Longerterm outlook doubtful, IMF picks out UK as laggard
Construction the main driver of growth in Feb

LONDON, April 13 Reuters Britain39;s economy stagnated in February as strikes by public workers hit output but a bounce in January was stronger than first thought, meaning a recession is a bit less likely to be brewing in early 2023, official data showed.

Economic output was flat in monthonmonth terms in February, against the consensus forecast for a 0.1 increase in a Reuters poll of economists.

But the Office for National Statistics ONS revised up its estimate for January39;s growth to 0.4 from 0.3 meaning Britain is likely to avoid the firstquarter contraction that the Bank of England predicted last month.

The bigger picture remains weak. While sidestepping recession for the time being, Britain39;s economy has stagnated over the last year.

International Monetary Fund projections published this week showed Britain bottom of the world39;s major economies in terms of expected economic growth in 2023, with a 0.3 contraction pencilled in, equivalent to a 0.7 fall on a per capita basis.

Suren Thiru, economics director at accountancy body ICAEW, said recession fears would linger as higher taxes and borrowing costs offset the fall in inflation and government support for energy bills.

These figures suggest…