Belfast Telegraph

Pace of recovery under the spotlight

By John-Paul Ford Rojas

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