By Jason Theodorou
The UK economy grew by 0.3% in the quarter from January to March, meaning that GDP data is unchanged from the last estimate issues by the Office for National Statistics. The figures come from revised data, after data scheduled for release on June 30 was postponed due to 'potential error's revealed by quality assurance tests.
The quarterly GDP figures issued by the Office for National Statistics are held as a reliable incidication of the status of the UK economy.
Howard Archer, analyst at IHS Global Insight, said: 'After all the intrigue and speculation caused by the Office for National Statistics delaying the release of the GDP data by a coouple of weeks, ultimately the revised data were a bit of a damp squib and did not change the picture hugely'.
The Index of Services for the three months in April was revised to 0.3%, up from the previous 0.2%. It is currently 0.6% lower than an earlier forecadt of 0.4%.
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