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Deloitte chief economist comments on Q1 2013 GDP figures

25 April 2013

Commenting on the GDP figures published today for Q1 2013, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“The UK has dodged a triple dip recession in the first quarter and shown surprisingly positive growth, helped by expansion in the service sector.

“But these numbers are less impressive and less important than they seem. GDP growth is erratic and first estimates of growth are often prone to large revisions.

“The big picture is of an economy that has grown by just 0.4% in the last 18 months. The UK economy is past the worst, but the outlook is still for choppy, sluggish growth through the rest of this year.”  

End

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About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

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