UK Awaits Economy Growth Evidence
Friday, April 23, 2010 1:36
First estimates of the growth of the British economy in the first three months of 2010 will be released soon.
The GDP numbers, which will be the latest insights into the health of the economy at 0930 GMT.
The economy grew by 0.4% in the last three months of 2009, when they finally pulled out of recession.
BBC Economics Editor Stephanie Flanders said most experts predicted a similar growth in the city lately, but that there is room for surprises.
The figures come in a week of unemployment rose to a 16-year high of 2.5 million watched.
The data, published by the Office for National Statistics, is required to less than half of the statistics to build a complete picture of the economy – based as it is not the latest retail figures.
Initial estimates have generally higher in the following revised estimates during the recession.
Our business editor said that the data would be analyzed carefully threatened by the political parties as general elections.
“Whatever the figure – it’s a safe bet that politicians of all stripes want to use to their advantage in the campaign,” she said.
Earlier this week a leading meteorologist warned that the UK economy remain stuck in the doldrums this year with a growth of 1% or less in 2010 predicted.
The Ernst & Young ITEM Club, which the Treasury’s economic model used for its forecasts, said the immediate outlook for the UK were “gloomy”.
An export-led recovery was unlikely to emerge by the year 2011 and consumer spending was too weak for a recovery, he added.
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