UK GDP shock fall: Industry reaction

Fund managers are split on what the unexpected contraction in UK growth means for the future of the economic recovery.

However, they all agree any talk of a raise in interest rates has been dampened. UK GDP shrank by 0.5% in the fourth quarter, shocking analysts who expected growth between 0.4% and 0.6%. The ONS says the bad weather seen in December could be partly to blame but industry commentators are concerned the contraction represents a severe slowdown in the economic recovery. Here are their views: Julian Chillingworth, CIO at Rathbones says there has been an over-reation to the news: "Fears of a double-dip recession are being seriously exaggerated - it's headline-grabbing scaremongering, ...