UK economic growth slower than expected

5 October, 2011


UK GDP has been revised down, showing growth of just 0.1% between April and June, less than the 0.2% previously estimated.

Thankfully the figure remains positive, going some way to ease fears of another recession, and separate data showed the UK services sector (which represents 70% of the UK economy) did grow during September.

Sterling has remained broadly flat in trading this morning, with Euro rates still around their best since March, as we await tomorrow’s decision from the Bank of England on any extension in Quantitative Easing.