Latest GDP statistics show economic growth of 0.3% in Q1 of 2013. (Link ONS)
The strongest growth has come from the service sector (1.3%) and retail in particular.
Production industries fell -2.6% in Q1 2013. Construction was hardest hit falling – 6.3%
Despite the strongest growth in real disposable income since 2009. (Real household disposable income increased by 1.4% between 2011 and 2012.) Higher retail spending appears to be partly financed by a fall in the savings ratio which fell from 7.1% (Q3 2012) to 4.3% (Q1 2013)
Investment shows only a modest growth in 2012.
| Business investment | General government | |
| 2005 | 15.2 | -63.8 |
| 2006 | -14.4 | 182.1 |
| 2007 | 12.6 | 7.0 |
| 2008 | 4.2 | 19.1 |
| 2009 | -16.6 | 13.4 |
| 2010 | -0.7 | -1.0 |
| 2011 | -1.3 | -10.1 |
| 2012 | 1.8 | 3.7 |
I think the Eurozone will have another crisis come September (Germany election). I’m really interested in seeing what will happen to the UK.