UK GDP Q1 Growth 0.7% Quarterly and 0.3% Annually

UK gross domestic product has grown 0.7% this year compared to the final quarter of last year and 0.3% compared to the first quarter of last year.

This UK economy was the last to emerge from recession out of Europe's developed nations, with a 0.4% growth in the final quarter of last year. So for it to continue into this strong growth, when many economies flat-lined or fell back into contraction, is a massive pat on the back for the UK government and will no doubt be used in the election campaigning.

In fact, if this growth is not revised down as it so often is, the UK may actually be seen to be recovering more strongly that the likes of France and Germany.

Eurostat hasn't revealed first quarter figures yet, but in Q4 last year, both France and Germany were still severely contracting on annual basis and Germany dropped off to zero percent growth on a quarterly basis.

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