ONS: the Estimate of UK GDP Growth in the First Quarter of the Year is at 0.8%
According to Trading Economics, the data coincided with the preliminary estimate, analysts did not expect its revision.
The estimate for the growth of the British economy relative to the first quarter of 2021 was left at 8.7%. The experts also did not expect its revision.
The volume of the British economy is now 0.7% higher than the pre-pandemic level.
Consumer spending increased by 0.6% in the first quarter, compared to the fourth quarter of 2021, as previously reported.
Public spending decreased by 1.3%, though preliminary estimates indicated a decline of 1.7%. The decrease of the indicator is mainly due to the reduction in health care spending.
Business capital investment in the UK in the last quarter decreased by 0.6% compared to the previous quarter.
The volume of industrial production increased by 1.3% in quarterly terms, the volume of construction - by 2.2%.
The ONS also reported on Thursday that the UK's current account deficit rose sharply in January-March to £51.7bn, or 18.3% of GDP, from £7.3bn a quarter earlier. This is the most significant deficit since the beginning of accounting for this indicator in 1946, writes Trading Economics.