Office for National Statistics

Economists react to today's ONS estimate of UK GDP growth in the first three months of this year...

The UK economy grew by 0.5% in the first quarter of the year, down slightly on economists' forecasts, the Office for National Statistics (ONS) said in its first estimate today.

Retail sales staged an unexpected recovery in March, providing some respite for the embattled high street.

The poorest 50% contributed just 6% of the total pension savings made by 50-64-year-olds in the UK between 2006 and 2008, figures show.

The pound has risen against the euro after UK GDP growth was reported as -0.5% in Q4 2010, slightly ahead of previous estimates of -0.6%.

UK retail sales slipped 0.8% in February compared to the previous month, according to the Office for National Statistics (ONS).

The UK unemployment rate rose to 8% in the three months to the end of January, lead by the highest number of out of work young people since records began.

The UK inflation rate rose to 4% in January, which is double the government's target and up from 3.7% the previous month.

Billionaire investor George Soros has warned the Chancellor's austerity budget will return the UK to recession unless the government curbs its spending cuts.

The British economy grew by 0.7% in Q3, lower than the previously estimated figure of 0.8%.