UK economy grows faster than first forecast

GDP rose 0.4% in the first three months of the year as the sharp drop initially predicted for construction sector failed to materialise

Britain's economy grew faster than initially thought in the opening months of this year but still suffered a marked slowdown compared to the end of 2014.

The Office for National Statistics said GDP rose 0.4% in the first quarter from the previous three months. That was in line with City economists' forecasts after a recent revision to official construction figures showed the sector did not suffer the sharp drop first pencilled in.

.@ONS has released its final estimate of UK #GDP for the first quarter. Read the Chancellor's statement: pic.twitter.com/PwhkXeaw3A