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22/07/2005
Poor performance on consumer growth
Data produced from the Office of National Statistics (ONS) today shows that the UK economy shown its worst performance in a decade as a High Street slow down puts a stop on growth.
The preliminary estimate shows that the chained volume measure of gross domestic product (GDP) increased by just 0.4 per cent between April and June.
The volume of output in the production industries is estimated to have decreased by 0.4 per cent this quarter. Manufacturing output has also decreased by 0.7 per cent. Mining and quarrying increased by 1.4 per cent and electricity, gas and water supply increased by 1.1 per cent.
The slowdown will raise fears that Chancellor Gordon Brown will miss his target of 3-3.5 per cent growth in 2005.
Analysts have said they expected the growth to be slightly under 1.8 per cent this year.
(CD/GB)
The preliminary estimate shows that the chained volume measure of gross domestic product (GDP) increased by just 0.4 per cent between April and June.
The volume of output in the production industries is estimated to have decreased by 0.4 per cent this quarter. Manufacturing output has also decreased by 0.7 per cent. Mining and quarrying increased by 1.4 per cent and electricity, gas and water supply increased by 1.1 per cent.
The slowdown will raise fears that Chancellor Gordon Brown will miss his target of 3-3.5 per cent growth in 2005.
Analysts have said they expected the growth to be slightly under 1.8 per cent this year.
(CD/GB)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
