Belfast Telegraph

UK Website Of The Year

Pace of recovery under the spotlight

By John-Paul Ford Rojas

Published 28/04/2015

GDP rose by 0.6% in the fourth quarter of last year but economists expect this to have slowed to around 0.5% for the first quarter
GDP rose by 0.6% in the fourth quarter of last year but economists expect this to have slowed to around 0.5% for the first quarter

The pace of Britain's economic recovery will come into focus today with official figures expected to reveal that it slowed in the first three months of this year.

Official figures on GDP will come nine days ahead of the General Election and are likely to be seized on by politicians as they vie over which of them is the most competent to manage the economy.

GDP rose by 0.6% in the fourth quarter of last year but economists expect this to have slowed to around 0.5% for the first quarter.

Data from the Office for National Statistics (ONS) shows that the economy expanded by 2.8% last year, its fastest pace since 2006, and the strongest rate among the G7 major economies in 2014.

Growth is expected to be further supported this year by the plunge in the global oil price, which has helped push inflation down to zero, meaning households' wage packets will go further and should boost consumer spending.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Read More

From Belfast Telegraph