Grow Th Rate Hit by Falling Production in North Sea Economy Slows to Year's Low As Industrial Output Contracts
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Summary
THE British economy, hit by falling North Sea oil production and a drop in coal output, slowed to its weakest annual rate of growth in more than a year in the first quarter of 2005 as industrial output contracted, according to official figures published yesterday.
Sterling rose slightly on the news, as some dealers had expected an even sharper slowdown after Thursday's disappointing retail sales pointed to weakness in consumer spending, which makes up two-thirds of gross domestic product.See the full content of this document
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Grow Th Rate Hit by Falling Production in North Sea Economy Slows to Year's Low As Industrial Output Contracts
The Office for National Statistics said GDP rose 0.6per cent in the first three months of the year after a 0.7per cent expansion in the previous quarter, in line with City...
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