The UK has narrowly avoided a triple dip recession, with estimates released this morning showing a 0.3% growth in GDP in the first quarter of 2013.
The Office of National Statistics, which published its preliminary estimate for the UK economy this morning, said poor weather “appears to have had a limited impact on GDP growth”.
January saw growth of 0.3%, while February was up 0.8%. However estimates for March put growth at 0.1%.
Over the past 18 months the economy has been “broadly flat”.
It added: “The strongest evidence was that it reduced retail output in January and March 2013 but boosted demand for electricity and gas in February and March, which increased output in the energy supply industries.”
The service industry gave the biggest boost to the economy, as well as production, largely thanks to mining and quarrying.
Figures for the retail sector were not split out.
However the ONS noted that these figures could be revised as more data comes in from the 44,000 businesses monitored.