22/07/2005

Poor performance on consumer growth

Data produced from the Office of National Statistics (ONS) today shows that the UK economy shown its worst performance in a decade as a High Street slow down puts a stop on growth.

The preliminary estimate shows that the chained volume measure of gross domestic product (GDP) increased by just 0.4 per cent between April and June.

The volume of output in the production industries is estimated to have decreased by 0.4 per cent this quarter. Manufacturing output has also decreased by 0.7 per cent. Mining and quarrying increased by 1.4 per cent and electricity, gas and water supply increased by 1.1 per cent.

The slowdown will raise fears that Chancellor Gordon Brown will miss his target of 3-3.5 per cent growth in 2005.

Analysts have said they expected the growth to be slightly under 1.8 per cent this year.

(CD/GB)


Related UK National News Stories
Click here for the latest headlines.

12 December 2012
One In Three Year Six Children Overweight
One in three final year primary school children are overweight or obese. The percentage of final year – Year 6 - primary school children (generally aged ten to 11) who were overweight or obese increased to 33.9 per cent in 2011/12, up from 33.4 per cent in the previous year.
17 April 2012
UK House Prices Rise
In the year to February 2012, UK house prices increased by 0.3 per cent, according to the Office of National Statistics (ONS). The average UK mix-adjusted house price was £224,473. Average house prices increased in both England and Scotland by 0.4 per cent and 1.1 per cent respectively.
07 November 2012
Tube Reliability Reaches Record High
During the London 2012 Olympic and Paralympic Games customers experienced the best level of performance ever provided, at the same time as record numbers of passengers used the network, according to Transport For London.
26 June 2006
Six per cent rise in income for Prince Charles
The Prince of Wales's private income increased by 6% to more than £14 million last year, according to Clarence House accounts. The rise in the 2005-06 fiscal year was attributed to commercial property rent reviews and increased investment income, the Duchy of Cornwall accounts revealed.
25 April 2003
Undergraduate applications rise by 4 per cent
The Universities and Colleges Admissions Service (UCAS) has today released figures today revealing that applications for undergraduate courses is up by nearly 4%. The latest figures from UCAS show that 393,750 applicants applied by 24 March for courses starting in Autumn 2003. This is up by 14,864 (3.9%) on the same point last year.