GDP growth: What the economists say...

The ONS said the chained volume measure of GDP rose by 0.5% in the first quarter of 2011, following a fall of 0.5% in Q4 2010. It said the effect of the snowy weather conditions in December is estimated to have subtracted 0.5% from growth in the fourth quarter. It added GDP has now returned to the level in Q3 2010.   Schroders European economist Azad Zangana Zangana said today's data suggests whilst the government's austerity measures are beginning to take their toll, they have not yet derailed the recovery altogether. "As the Bank of England had been forecasting a 0.8% rise in...