Economic Indicators, Budget Update

• GDP grew by 0.7% in Q4 2013, following growth of 0.8% in Q3.

• The CPI annual inflation rate was 1.9% in January 2014, below the Bank of England’s target of 2.0%.

• There were 30.15 million people aged 16 and over in employment in October-December 2013, up 193,000 on the quarter. The employment rate was 72.1%.