UK Q1 GDP growth of 0.1% 'not the mark of an economy in good health'

0.3% drop in March

The UK recorded a 0.1% increase in GDP in Q1, which, although positive, has revealed the fragile economic conditions of the country.

The Office for National Statistics reported today (12 May) that GDP fell by 0.3% in March, which when combined with 0.5% growth in January and flat growth in February, matched the 0.1% growth from the final quarter of 2022. Jeremy Batstone-Carr, European strategist at Raymond James Investment Services, described the UK as "holding onto growth by its fingertips". While it had "managed to eke out a sliver of growth" throughout the quarter, he said this was "not the mark of an economy in good health". Yesterday, (10 May) the Bank of England adjusted its economic forecasts up while rai...