GDP

More public sector pensions uproar, UK recovery fears and still no deal on the US debt ceiling. Our round-up of the news from the nationals.

Citigroup and Scotia Capital have predicted a 0.2% contraction in GDP growth for the second quarter, renewing fears of a double-dip recession in the UK.

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The UK economy officially grew by 0.5% in Q1, according to the Office for National Statistics'(ONS) third and final estimate for the period.

US Gross Domestic Product (GDP) increased at an annual rate of 1.9% in Q1 2011, marginally up from its previous estimate of 1.8%.

Douglas Roberts, senior international economist at Standard Life Investments, says party politics may hamper a return to growth in the US.

The Reserve Bank of India (RBI) recently surprised financial markets by raising interest rates by 0.5%, to 7.25%. Not only was the increase double the expectation but the central bank voiced deep concerns about inflationary pressures in India.

The UK economy grew at 0.5% in Q1, in line with previous estimates, according to the Office for National Statistics (ONS).

The economies of the 17 countries in the single currency block grew 0.8% in the first three months of 2011, up from 0.3% in Q4, figures out today reveal.

The CBI has cut its UK growth prediction as squeezed household budgets, weak wage growth and high inflation pour cold water on the recovery.