UK economy grows 0.3% in Q1
The country’s Q1 growth rate was the weakest quarterly growth seen in two years. The deceleration in growth was attributed to a higher trade deficit and a slowing services sector.
In the first three months, the services sector expanded by 0.4%, posting the slowest pace of growth since 2012 while the country’s trade deficit rose to £13.2 billion ($20.1 billion) in the January-March period from £9.6 billion ($14.6 billion) in the previous quarter, with exports declining 0.3% and imports rising 2.3%.
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