UK Economy Slowed Down to 0.3% Growth

Britain’s economic growth slowed in the three months through March as concerns about the U.K.’s impending exit from the European Union hurt consumer spending.

The Office for National Statistics says the economy grew 0.3 percent from the previous quarter, slower than the 0.4 percent forecast, as inflation brought on by the weaker pound reduced household spending power.

At the same time, lender Nationwide said that its measure of house prices showed a second successive monthly drop, another signal that what was once the fastest-growing major economy is hitting the skids.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
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