{"id":2987,"date":"2010-04-23T09:39:03","date_gmt":"2010-04-23T09:39:03","guid":{"rendered":"https:\/\/mmm.9dotdigital.ca\/?p=2987"},"modified":"2025-03-27T15:49:02","modified_gmt":"2025-03-27T15:49:02","slug":"uk-q1-growth-soft-but-probably-underestimated-again","status":"publish","type":"post","link":"https:\/\/mmm.9dotdigital.ca\/?p=2987","title":{"rendered":"UK Q1 growth soft but probably underestimated again"},"content":{"rendered":"<p>GDP is provisionally estimated to have risen by only 0.2% in the first quarter but this is likely to be revised up, as were the prior three quarters &ndash; fourth-quarter growth was raised from an original 0.1% to 0.4%. <\/p>\n<p>The current estimate is overly reliant on data for January and February, when the economy was hit by bad weather. National Statistics has assumed that GDP rose by 0.3% between February and March &ndash; see chart &ndash; but this may underestimate the catch-up effect. An upward revision is also suggested by labour market data and business surveys, showing a further rise in capacity utilisation last quarter.<\/p>\n<p>GDP is currently estimated to have been 0.3% lower than in the first quarter of 2009 but this decline is explained by lower North Sea production &ndash; gross value added excluding oil and gas extraction was up by 0.1%, the first annual gain since the third quarter of 2008.\ufeff<\/p>\n<p><span class=\"full-image-block ssNonEditable\"><span><img decoding=\"async\" src=\"\/storage\/graphs\/uk-gdp-quarterly230410.gif?__SQUARESPACE_CACHEVERSION=1272016236942\" alt=\"\" \/><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GDP is provisionally estimated to have risen by only 0.2% in the first quarter but this is likely to be revised up, as were the prior three quarters &ndash; fourth-quarter growth was raised from an original 0.1% to 0.4%. The current estimate is overly reliant on data for January and February, when the economy was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2987","post","type-post","status-publish","format-standard","hentry","category-money-moves-markets"],"_links":{"self":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/2987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2987"}],"version-history":[{"count":1,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/2987\/revisions"}],"predecessor-version":[{"id":5296,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/2987\/revisions\/5296"}],"wp:attachment":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}