Economic Indicators May 2016, Queen’s Speech Debate update

GDP growth lower

GPD grew by 0.4% in Q1 2016. This was lower than Q4 2015, when growth was 0.6%. 

Inflation down

The Consumer Price Index rose by 0.3% in the year to April 2016. This was below the rate in March (0.5%) and below the Bank of England’s target of 2.0% for the 28^th successive month.

Employment and unemployment steady

The headline rate of employment for 16-64 year olds was 74.2% in January to March 2016. In the same period, the headline unemployment rate was 5.1%. Both these figures are broadly unchanged compared with the preceding quarter.