New figures show that Britain’s economy grew even slower than first expected in the first three months of 2017
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Britain’s economy didn’t grow at all in the last quarter, if you account for the increase in population.
Today’s new figures show that GDP on a per-capita basis was flat in Q1 2017, compared to the final three months of 2016.
The bad news is that net trade took a big bite out of Britain’s growth rate.
Net trade wiped 1.4 percentage points off the growth rate, dashing hopes that the weaker pound would be a massive boost to exporters.
Within net trade, there has been a rise in total imports, which have contributed negatively to UK GDP, with a notable contribution from transport equipment, machinery and chemicals.