News Economy UK economy slowdown amid pre-election season

UK economy slowdown amid pre-election season

Reuter’s news agency reported that Britain's economy has a sharp decrease in the first months of 2015, which is a setback for Prime Minister David Cameron who based his campaign for re-election on the strength of the recovery.
 
Gross domestic product grew by 0.3 percent in the January-March period, the slowest quarterly rate since the end of 2012 when there were fears Britain was heading into recession.
 
Economists said the weakness was likely to be a failure, with the economy still on course for another strong year of growth.
 
Finance minister George Osborne said the recovery could not be taken for granted and urged voters to stick with the Conservative Party.
 
But the opposition Labour Party seized on the data to challenge the Conservatives' claim to be trustworthy guardians of the economy by focusing on what it calls a cost-of-living crisis. 
 
Wages have failed to keep pace with inflation throughout most of Cameron's five-year premiership.
 
It is noteworthy, however, that an opinion poll on Tuesday gave the Conservatives a one percentage-point lead over Labour.
 
Source: Reuters 
 
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