Output GDP 0.1% Growth

The NIESR estimates that GDP grew by 0.1% in the three months to May 2012 after a 0.1% fall in April. The UK economy has also ceased to contract but remains weak. NIESR also say that negative output will get worse while the economy is stagnant but expect economic recovery to begin in 2013.

Industry decreased from 90.1 to 89.8 between April and May 2012, agriculture and construction remained stable at 78.7 and 91.2 respectively. Private services grew from 99 to 99.4, and public services from 105.7 to 105.8.