Arab Today, arab today british growth slows sharply on eve of election
Last Updated : GMT 00:40:41
Arab Today, arab today
Arab Today, arab today

British growth slows sharply on eve of election

Arab Today, arab today

Arab Today, arab today British growth slows sharply on eve of election

Growth in Britain slowed sharply
London - AFP

Britain's economy grew far slower than expected in the first quarter of 2015, official data showed Tuesday, delivering a blow to the government just nine days before a general election.

Gross domestic product expanded by 0.3 percent between January and March compared with 0.6 percent in the final quarter of 2014, the Office for National Statistics (ONS) said in an initial estimate.

GDP, the main indicator of growth, is the last major piece of data on the economy before Britain votes in a knife-edge general election next week.

Opinion polls show Prime Minister David Cameron's centre-right Conservatives neck and neck with the main centre-left opposition Labour Party.

As neither is expected to win an outright majority in the election, they will likely have to team up with one or more smaller parties in order to govern, such as the Scottish National Party (SNP).
"GDP figures show our economy is still growing, but we can't take the recovery for granted," Cameron tweeted following Tuesday's data.

"Don't risk it with (Labour leader) Ed Miliband and the SNP," the prime minister added.

But Labour's top finance official Ed Balls said: "These figures show they have not fixed the economy for working families."

- All about the economy -

The state of Britain's economy is in sharp focus ahead of the general election, with Labour arguing that the ruling coalition's painful austerity measures since coming to power in 2010 have hurt the poor.

But the Conservatives and junior coalition partners Liberal Democrats are hoping to capitalise on their stewardship of the economy, which has staged a solid recovery since 2010 despite Tuesday's shock data.
"Given that the Conservatives and Liberal Democrats are hoping that many undecided voters will ultimately decide to vote for them due to their management of the economy, this marked slowdown in growth is particularly unwelcome," said Howard Archer, chief UK economist at consultants IHS Global Insight.

"However, the Conservatives and Liberal Democrats can probably argue with some justification that increased uncertainty ahead of the general election has hampered growth, likely leading to business caution particularly on investment. They can also point to still relatively decent year-on-year GDP growth of 2.4 percent in the first quarter."

Analysts' consensus had been for a slowdown in quarter-on-quarter growth to only 0.5 percent in the first three months of 2015, according to Bloomberg News.
"With the election just days away, the news that the UK's economic recovery slowed sharply in the first quarter clearly won't help the coalition parties, but this slowdown should just be temporary," said Vicky Redwood, chief UK economist at Capital Economics research group.

"Households' real incomes are still on track for their strongest growth this year since 2006. And the business surveys remain upbeat and consistent with quarterly GDP growth returning to 0.7 percent or 0.8 percent quarterly rates soon," she added.

The ONS said that services growth slowed to 0.5 percent in the first quarter, while the other three main industrial groupings in the economy contracted, with construction falling by 1.6 percent, production by 0.1 percent and agriculture by 0.2 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british growth slows sharply on eve of election Arab Today, arab today british growth slows sharply on eve of election

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british growth slows sharply on eve of election Arab Today, arab today british growth slows sharply on eve of election

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday