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Business News

GDP grew 1 per cent in 2011, think-tank says

Britain's economic growth slowed in the three months ending in December, the National Institute of Economic and Social Research said yesterday, boosting the case for the Bank of England to take further measures to support the economy.

Gross domestic product grew by 0.1 per cent in the period, down from 0.3 per cent in the three months ending in November, the think-tank said in its monthly estimate. "This implies the economy expanded by 1 per cent in 2011, half the rate of growth experienced in 2010," Niesr said.