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‘Relief’ as UK GDP growth left unrevised

‘Relief’ as UK GDP growth left unrevised

The second estimate of UK GDP growth in Q4 2015 remains unrevised at 0.5 per cent, a confirmation dubbed “a relief” given market turmoil.

Capital Economics chief UK economist Vicky Redwood noted while the Office for National Statistics (ONS) update was expected, it could help to soothe nerves amid volatility.

The annual GDP growth figure was also unrevised, at 2.2 per cent.

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“The fact that quarterly UK GDP growth in Q4 was left unrevised at 0.5 per cent was expected, but nonetheless comes as a bit of a relief given the jitters about the global recovery at the moment,” she said.

However Ms Redwood warned that continued fiscal austerity, weaker global sentiment and the EU referendum could all challenge UK growth prospects in the months ahead.