Quarterly estimate of GDP growth in Britain was left at the level of 1.2%

According to the Office for National Statistics, the final estimate of the UK GDP growth for the first quarter is confirmed at 1.2% in annual terms, which is the weakest growth rate of the British economy since the second quarter of 2012. Compared to the previous quarter, the GDP growth estimate was revised upward, from 0.1% to 0.2%. Experts had not expect a review of the estimates of the economic recovery in monthly and annual terms. The volume of construction decreased in the first quarter by 0.8% against the previously estimated decrease of 2.7%. Consumer spending rose 0.2% for the quarter, showing the slowest pace since late 2016. Public expenditures in quarterly terms increased by 0.4%, capital investments decreased by 1.3%, the volume of imports decreased by 0.2%. The volume of exports did not changed.

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