UK Quarter Growth Increases by Just 0.1%

The Office for the National Statistics, the ONS, has said that UK growth increased by only 0.1% over the last quarter, increasing fears that Brexit has caused damage to the economy.

The ONS said:

“The preliminary estimate of gross domestic product (GDP) shows that the UK economy grew by 0.1% in Quarter 1 (Jan to Mar) 2018, the weakest quarterly growth since Quarter 4 (Oct to Dec) 2012. The weak growth in Quarter 1 2018 was driven by a sharp fall in construction output and a sluggish manufacturing sector, while growth in services also slowed. Today’s figures suggest that the overall impact from the recent snow and adverse weather conditions across the UK was relatively small”.

A spokesperson for the Prime Minister said that the figures were “disapppointing”.

John McDonnell, the Shadow Chancellor of the Exchequer, said:

“It’s clear to everyone except Philip Hammond that our economy is in need of increased investment and working families are struggling with the cost of living and the burden of increasing household debt”.