Economic Indicators, May 2016

GDP growth lower

GDP grew by 0.4% in Q1 2016. This was lower than the 0.6% growth seen in Q4 2015.

Employment and unemployment steady

The employment rate was 74.1% in the quarter to February 2016. The unemployment rate was 5.1%.

Inflation up, but still very low

CPI inflation was 0.5% in the year to March 2016. This is the highest rate of inflation since December 2014, but still below the Bank of England’s target of 2.0%.