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Slump in UK annual growth confirmed

UK GPD expanded by 2.2% last year, down from 2.9% in 2014
UK GPD expanded by 2.2% last year, down from 2.9% in 2014

Britain's economy slowed sharply last year but showed signs of modest recovery in the final quarter of 2015, official data confirmed today. 

Gross domestic product - the total value of all goods and services produced by a country's economy - expanded by 2.2% last year, down from 2.9% in 2014, the Office for National Statistics said. 

This confirmed its initial estimate published last month. 

GDP grew by 0.5% in the three months from October to December compared with the third quarter when it came in at 0.4% growth. Again the data matched the statistic office's initial reading.

nalysts said the fact that quarterly UK GDP growth was left unrevised at 0.5% was expected, but nonetheless comes as a bit of a relief given the jitters about the global recovery at the moment.