UK posts lowest GDP growth in nearly two years
The
UK National Statistics Office said that the country's GDP (Gross Domestic Product) grew 0.5% in the first quarter of 2005 compared to 0.7% growth in the previous quarter.
A 0.7% fall in
manufacturing output coupled with declines of 1.4% decline in energy supply and 0.6% in energy extraction pushed the
UK's economic growth to its lowest since the second quarter of 2003.
A 0.8% rise in the service sector and a 0.6% increase in
construction output fuelled the first quarter economic growth.