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U.K. Economy Weakens More Than Estimated, Growth Drops to 0.2%

  • Pace of growth dropped to just 0.2% in first quarter
  • Consumer spending weakens, net trade drags on economy
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U.K. GDP Revised Down Ahead of Election

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The U.K. economy slowed more sharply than initially estimated in the first quarter as shoppers flagged and trade dragged on growth.

Gross domestic product rose 0.2 percent, less than the 0.3 percent published late last month and down from 0.7 percent at the end of 2016. Growth in services, the biggest part of the economy, and production were both revised down compared with the initial estimate.