Sluggish growth weighs on the UK

The UK has averaged just 0.1 per cent growth per quarter in the last six months, the National Institute of Economic and Social Research (NIESR) said yesterday. The Westminster thinktank has estimated first-quarter growth of 0.7 per cent for the first three months of the year, reversing the reported 0.5 per cent contraction in the economy at the end of 2010. “This strong figure for the first-quarter of this year is flattered by the economic impact of the adverse weather in the final quarter of last year,” NIESR said.