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According to a revised review of UK Economic figures by the Office for National Statistics' (ONS), the UK economy grew by 0.5% in the first three months of the year. They also had positive news for the trade deficit, which had fallen from £11.5bn to £5.7bn, as exports increased and imports decreased.
However, ONS figures showed that business investment declined 7.1% quarter-on-quarter, in its biggest fall for two years.
The manufacturers Organisation EEF said that the 1.1% growth in manufacturing activity during the quarter confirmed that a rebalancing of the economy was slowly taking hold.
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