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UK First Quarter Growth Confirmed

The UK’s economy grew at 0.3% in the first three months of the year, official figures have confirmed.

The figure from the Office for National Statistics is unchanged from the initial estimate it gave in April.

It confirms the UK avoided falling into a triple-dip recession, and suggests signs of recovery in the economy.

On Wednesday the International Monetary Fund (IMF) urged the government to do more to stimulate growth as well as continuing austerity measures.

It reflects concerns that UK economic growth has been persistently weak since it first fell into recession following the financial crisis in 2008.

In its commentary accompanying the revised figures, the ONS said GDP growth has been slowed by weakness in the domestic and global markets.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza