Infinitely better number three

25 April 2013 By Ian Campbell

Rather than the feared triple-dip recession, the UK’s GDP rose 0.3 percent in the first quarter. That’s not much, but does help vindicate the Chancellor’s austerity policies. The pound could strengthen more and forecasts of 0.7 percent growth this year may prove too pessimistic.

This content is for Subscribers only

Context News

The UK’s Office for National Statistics reported that UK GDP increased by 0.3 percent in the first quarter of 2013 compared with the fourth quarter of 2012. GDP rose by 0.4 percent in the first quarter of the preceding year.
The ONS said that by far the largest contribution to first-quarter growth came from services, whose output increased by 0.6 percent, contributing almost 0.5 percentage points to the 0.3 percent increase in overall GDP. Output of production industries increased by a tiny fraction.

Email a friend

Please complete the form below.

Required fields *