First-quarter GDP in Britain slowed more than expected, dealing a blow
to the government ahead of next week's elections. Growth was lackluster
across the board, including in the country's dominant service sector.
Gross domestic product grew by a mere 0.3 percent in the fist quarter, compared with the previous quarter, according to the preliminary reading released on Tuesday. Analysts had expected 0.5-percent growth. The all-important service sector grew by just 0.5 percent, the slowest rate since mid-2013.
It was the slowest rate of growth since the end of 2012, putting a damper on UK Prime Minister David Cameron's campaign message emphasizing the achievements of the government's "long-term ecomomic plan" ahead of the general election on May 7.
UK Finance Minister George Osborne tweeted that the figures showed that the recovery in Britain could not be "taken for granted" and that voters should stick with the government's plan.
Read more: Pre-election blow to Cameron′s Conservatives as UK growth slows sharply | Business | DW.DE | 28.04.2015
Gross domestic product grew by a mere 0.3 percent in the fist quarter, compared with the previous quarter, according to the preliminary reading released on Tuesday. Analysts had expected 0.5-percent growth. The all-important service sector grew by just 0.5 percent, the slowest rate since mid-2013.
It was the slowest rate of growth since the end of 2012, putting a damper on UK Prime Minister David Cameron's campaign message emphasizing the achievements of the government's "long-term ecomomic plan" ahead of the general election on May 7.
UK Finance Minister George Osborne tweeted that the figures showed that the recovery in Britain could not be "taken for granted" and that voters should stick with the government's plan.
Read more: Pre-election blow to Cameron′s Conservatives as UK growth slows sharply | Business | DW.DE | 28.04.2015
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