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UK economic growth figures impact on election run-up

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UK economic growth figures impact on election run-up
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A shot across the bows of Prime Minister David Cameron. That’s the political analysis of figures released on Tuesday which showed Britain’s economy slowed sharply in the first three months of 2015.

Gross domestic product grew by 0.3 percent in the January-March period the slowest quarterly rate since the end of 2012.

The country’s dominant services sector slowed and construction contracted by 1.6 percent.

“You shouldn’t take too much on one quarter’s figures,” was David Cameron’s reaction whose Conservative party is neck in neck with Labour ahead of the election.

The preliminary reading of GDP is largely an estimate and the figures are often revised.