UK awaits economy growth figures

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  • xman
    Admin
    • Sep 2006
    • 24007

    UK awaits economy growth figures


    Initial estimates about the growth of the UK economy in the first three months of 2010 are due to be published.The GDP figures, due at 0930 BST, will be the latest insight into the health of the economy.

    The economy grew by 0.4% in the final three months of 2009 when it finally pulled out of recession.

    BBC economics editor Stephanie Flanders said most city experts predicted similar growth in the latest period, but that there was room for surprises.

    The figures come in a week which saw unemployment rising to a 16-year high of 2.5 million.

    The data, to be released by the Office for National Statistics, is based on less than half the statistics needed to build a complete picture of the economy - for example, it does not include the latest retail figures.

    Initial estimates have typically been revised higher in subsequent estimates during the recession.

    Our economics editor said that the data would be carefully analysed by political parties as the general election loomed.

    "Whatever the figure - it's a safe bet that politicians of all stripes will want to use it to their advantage in the campaign," she said.

    Earlier this week, a leading forecaster warned that the UK economy would remain stuck in the doldrums this year with growth of 1% or less predicted in 2010.

    The Ernst & Young ITEM Club, which uses the Treasury's economic model for its forecasts, said the immediate prospects for the UK were "dismal".


    An export-led recovery was unlikely to emerge until 2011 and consumer spending was too weak for a recovery, it added.This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.


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