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13 May 2015
UK GDP expands in the quarter to April - NIESR
FXStreet (Mumbai) - UK gross domestic product rose 0.4% in the quarter to April, after rising 0.3% in the three months to March, according to the National Institute of Economic Research (NIESR).
NIESR expects that a slight softening of GDP growth experienced in the first quarter of this year was only temporary and the economy should expand by 2.5% for the year as a whole.
NIESR publishes its quarterly GDP updates on a monthly basis and analyses floating quarters as opposed to the official data provided by the Office for National Statistics (ONS) in London, which gathers figures on the basis of calendar quarters.
The official figures showed UK economic performance decelerated by half in the first quarter to a rise of 0.3%, but the first GDP estimate was based on only 44% of all the data available, so revisions are expected in the second and third readings.
NIESR expects that a slight softening of GDP growth experienced in the first quarter of this year was only temporary and the economy should expand by 2.5% for the year as a whole.
NIESR publishes its quarterly GDP updates on a monthly basis and analyses floating quarters as opposed to the official data provided by the Office for National Statistics (ONS) in London, which gathers figures on the basis of calendar quarters.
The official figures showed UK economic performance decelerated by half in the first quarter to a rise of 0.3%, but the first GDP estimate was based on only 44% of all the data available, so revisions are expected in the second and third readings.