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Financial News: UK Growth Eases In Q1: NIESR

UK Growth Eases In Q1: NIESR

04/11/2018 - 07:21:00 (RTTNews)

(RTTNews) - UK's economic growth eased in the first quarter as severe weather disrupted activity across major sectors in March, the National Institute of Economic and Social Research reported Wednesday.

According to monthly estimates of GDP, output growth eased to 0.2 percent in the first quarter from 0.4 percent in the fourth quarter of 2017, think tank said.

"The main reason for the weakness was severe weather in March which is likely to have disrupted activity in all major sectors of the economy," Amit Kara, Head of UK Macroeconomic Forecasting at NIESR, said.

There is a small offset in industrial production growth which recovered in the first quarter after the previous quarter was affected by the Fortis oil pipeline shutdown, Kara noted.

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