GDP figures: a blow for Osborne's growth and austerity mantra

The rip-roaring growth rates of 2013 and 2014 started to peter out last summer and have faltered ever since

What a gift to Labour. With just a few days to go before the general election, official figures have shown that Britain's growth rate halved in the first three months of the year. And without the huge boost from lower oil prices to consumer spending and the transport sector, the economy could be heading back into recession.

Such is the lopsided, unequal character of Britain's recovery that the Office for National Statistics put the spotlight on the hotel, restaurant and distribution sectors as among the fastest growing. A 1.2% increase in the last quarter compares with a 2.2% collapse across the entire construction industry and a minuscule 0.1% increase in manufacturing.