The UK is officially the slowest-growing advanced economy on earth, official statistics confirmed on Friday.
GDP grew at just 0.2 per cent in the first three months of the year; down from 0.7 per cent in the previous quarter, and confirming previous estimates, the Office for National Statistics reported.
This means that the UK economy, which had held up better than expected in the immediate aftermath of the Brexit vote is now lagging behind all of the other countries in the G7 group of advanced nations and all other European countries.
“During Quarter 1 (Jan to Mar) 2017 the UK experienced the slowest growth of 0.2 per cent among European countries and the G7, below that of the USA and Japan, which grew at 0.3 per,” The ONS said.
“In Quarter 1 2017, Canada experienced the highest growth at 0.9 per cent.”
Germany experienced growth of 0.6 per cent, whilst Italy and France experienced growth of 0.4 …