Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

UK economy avoids triple-dip

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.

Readers' comments (2)

  • While we are not 'technically' in recession, in general terms, the clothing trade most certainly is.

    Unsuitable or offensive? Report this comment

  • Poor weather may have had a "limited" impact on general GDP growth, but it has had a huge impact on fashion sales. Shows how little these figures actually mean in real terms.

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.