UK growth still sluggish

The UK economy continued to recover from recession in the first three months of 2010 with GDP growing by 0.2% in the 1st quarter according to the the Office for National Statistics (ONS). But this was weaker than the 0.4% growth predicted by many economists. The final quarter of 2009 saw GDP growth of 0.4%, revised up from an initial estimate of 0.1%.

The ONS said the particularly cold weather seen at the beginning of the year may have had an impact on  the economy, particularly in the retail and industrial sectors, although growth came from the financial and business services sector, which saw growth of 0.6% and manufacturing output grew by 0.7% over the quarter.

U.K. Q4 2009 GDP revised upwards to 0.3% from 0.1%

The Office for National Statistics (ONS) said that British gross domestic product (GDP) grew by 0.3% in the final three months of 2009, revised up from the initial estimate of 0.1% but still below expectations of a 0.4% increase. U.K. GDP decreased 3.3% in 2009, one of the worst recessions in British history. The Q1 2010 data will be watched with interest for confirmation that that the decline in the economy is at an end.