UK growth slows in early 2016


The initial estimate for economic growth at the start of 2016 shows a slowing down.


The preliminary GDP estimate from the Office for National Statistics indicated that the UK economy grew by 0.4% in the first quarter of 2016 compared with the final quarter on 2015. That’s slightly slower than during the previous quarter (0.6%) and below the quarterly average of the past three years (0.6%) when GDP growth became more established.


The only industrial group to show growth was services where output was up by 0.6% in first quarter 2016 compared with the previous quarter. The other three main industrial groupings within the economy saw output decrease, with production falling by 0.4%, construction output by 0.9% and agriculture by 0.1%.


Within the production grouping, manufacturing output decreased by 0.4% following a rise of 0.1% in final quarter of 2015.


GDP was 2.1% higher in first quarter 2016 on the same quarter a year ago.


www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/grossdomesticproductpreliminaryestimate/januarytomarch2016