economy

UK economy grows 0.3% after unemployment rise

Thu, 25/04/2013 - 12:45 -- nick

The UK economy grew by 0.3% last quarter, following estimates that it would shrink, according to the Office for National Statistic (ONS).

Recent unemployment figures showed a 70,000 rise, and economists had expected this to contribute to a shrinking of the overall economy.

Following a fall in national output last quarter, another fall would have meant the UK was in a triple-dip recession for the first time ever.

But the overall picture is of little real growth, the rise in this quarter's figure balancing a 0.3% drop in last quarter's.

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