The Office for National Statistics' second estimate of Q1 GDP has left the reading unrevised at 0.3%, but hopes are growing of a more positive Q2 figure.
The latest estimate, in line with market expectations, was driven by increased inventory holdings and a slight increase in household consumption, according to the ONS. Though a third estimate will be released next month, attention is already turning to the Q2 figure. Capital Economics' Martin Beck said recent data points will provide "a good springboard for growth" in the second quarter. Beck, the forecaster's UK economist, pointed to "evidence of growing momentum in activity during the first quarter", including more positive services output data released this morning. But he ad...
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