NIESR's UK GDP estimate slows but confident about Q1

UK economic growth slowed over the last three months, according to the National Institute of Economic and Social Research.

NIESR said its monthly estimates of GDP suggested UK economic output slowed to 0.3% in the three months to end-February, down from the 0.4% growth in the three months ending in January.

But the thinktank said it estimated the economy had expanded by roughly 0.4% since the turn of the year, with a particularly weak monthly figure for December continuing to weigh on the three-month growth rates.

“It looks as if output growth at the start of 2016 has been subdued," said research fellow Jack Meaning.

"However, it appears that December 2015 may have been a low point for GDP and as this drops out of the calculation of quarterly growth rates, output growth for the first quarter may strengthen slightly.”