Economic growth grew at a slower pace than expected in the first three months of the year, as Brexit uncertainty combined with the upcoming General Election starts to bite.
According to the figures from the Office for National Statistics, released on Friday, the economy grew by just 0.3 percent at the start of the year. This marks the slowest growth rate in a year, below the 0.4 percent expected by analysts and a considerable decrease on the 0.7 percent seen in the final quarter of 2016.
Growth in the service sector led the fall, dropping by 0.5 percent over the period. Slower retail sales also had an effect on growth, after retailers reported their weakest figures seven years over the three months as prices rise.
The ONS commented: “There were falls in several important consumer-focused industries, such as retail sales and accommodation; this was due in part to prices increasing more than spending.”
The figure marks a worrying, weaker-than-expected performance as the country prepares for both a General Election and Brexit negotiations.