Lacklustre December helps push GDP growth to 0.5% in Q1

Improved business investment

UK GDP grew by 0.5% in the first quarter of 2019, up from 0.2% in the previous quarter, as the economy recovered from a dip in December, according to the latest Office for National Statistics (ONS) estimates.

The ONS said strengthened growth in the first three months of 2019 was "in part due" to the 0.3% GDP decline in December, "which makes the current period look stronger in comparison". 'Mid-cycle slowdown': UK economy weakens Notably, GDP growth - to which lower oil prices also contributed - was boosted by an increase in household consumption and business investment. Private consumption, government consumption and gross capital formation also contributed positively, while net trade subtracted from GDP growth in the first quarter. Production output increased by 1.4% in the first q...