NIESR: GDP growth drops to 0.3%
GDP grew by 0.3% in the three months ending in February 2016 after growth of 0.4% in the three months to January, according to NIESR's latest estimate.
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NIESR said that the 'particularly weak' monthly figure for December continues to weigh on the three-month growth rates as it estimates that the economy has expanded by roughly 0.4% since the turn of the year.
Jack Meaning, Research Fellow at NIESR, said:
“It looks as if output growth at the start of 2016 has been subdued. However, it appears that December 2015 may have been a low point for GDP and as this drops out of the calculation of quarterly growth rates, output growth for the first quarter may strengthen slightly.”
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