The ONS has announced the UK economy grew by 0.2% in 2010Q1 (first three months of the year).
This is lower than many expected, and of course people are making big game of it. Apparently it's a sign that momentum in the economy is waning according to Ernst and Young. But industrial growth surged 0.7% in the same period, and this is just the first release of GDP. I suspect we'll see the figure revised higher as the ONS counts up more of the economy (this figure is based on just 40% of the numbers).
This blog accompanies the econ101ab Principles of Economics course given at the University of Birmingham. The lecturers for both parts of the course (101a, microeconomics and 101b, macroeconomics) will occasionally post here on matters related to lecture material. We hope to show the relevance of the concepts we are teaching at each stage of the course for helping understand how the world works...
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