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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:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
