First quarter GDP up 0.8%

THE economy grew by 0.8% in the first quarter, up on 0.7% in the final three months of last year.

The Office of National Statistics (ONS) said output increased in three of the four main industrial groupings within the economy.

Services saw growth of 0.9%, production was up 0.8% and construction grew by 0.3%. However, output decreased by 0.7% in agriculture.

Gross domestic product (GDP) was 3.1% higher in the first quarter than in the same period a year ago.

The ONS added: “There was some evidence to suggest construction output was affected by the storms and high rainfall in January and February. However, over the quarter, the storms have not had a significant impact on GDP growth in Q1 2014 and ONS has not classified them as a statistical special event.”