Downturn in economic growth

The rate of economic growth in the UK has slipped to its lowest for three years, official figures have shown.

According to data from the Office for National Statistics, the economy expanded by 0.4 per cent in the first quarter of the year.

This compares to the 0.6 per cent registered in the last three months of 2007.

Although the weak quarterly rate of growth was widely expected, it is nevertheless below the longer-term trend growth rate.

The annual growth rate was also down at 2.5 per cent, 0.3 per cent lower than the figure for the last quarter of 2007.

Date:25 April 2008

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