UK_GDP

But this may be as bad as it gets. More timely surveys point to an April pick-up.

Purchasing managers indexes for April were consistent with 0.6 per cent growth in Q2, with the PMI tracking manufacturing rising to a three-year high.

As Ruth Gregory, UK Economist at Capital Economics said: "Looking ahead, the business surveys and April’s strong performance on the high street suggest that there is a good chance that quarterly GDP growth will rebound in Q2. And the improvement in survey measures of export orders and investment intentions supports our view that the external and corporate sectors will, in time, help to compensate for soft consumer spending growth in the quarters ahead. So although there are many challenges ahead – not least further rises in inflation this year – we don’t think any slowdown this year."