NIESR pares its growth figures

The UK recovery is being weighed down by sluggish growth, expanding by just 0.3 per cent in the last three months, according to the National Institute for Economic and Social Research. The three-monthly rate of growth was down from 0.5 per cent for the first-quarter of the year, as activity pared some losses from the heavy winter freeze at the end of 2010. NIESR previously predicted 1.4 per cent growth for 2011.