UK only grew 0.1% in Q4: NIESR

The British economy just managed to achieve growth in the fourth quarter of 2011, according to the National Institute of Economic and Social Research (NIESR).

NIESR estimated gross domestic product grew by 0.1% in the last three months of the year, compared with the third quarter, reports the Telegraph. The Institute said the figures suggested the economy grew by 1% in 2011, less than half the rate of 2010, when GDP increased by 2.1%. NIESR's assessment comes ahead of the first official estimate, which is to be published by the Office for National Statistics on January 25. The data coincided with weaker-than-expected industrial production data for November, and a deteriorating outlook for the UK according to the Organisation for Economic...