GDP slows to 0.2pc, but stays above zero

28 July, 2011


This morning’s first estimate of GDP for March to June showed a 0.2% growth in the economy – hardly signs of an imminent economic recovery, but at least a positive figure which has eased fears of a ‘double dip’ recession.

Sterling found some strength when the figures were announced, as there had been genuine fears that a contraction in the economy may have been announced. The Pound gained around 0.5c against both the Euro and US Dollar in trading this morning.