March 9, 2018 / 12:17 PM / 9 months ago

UK economic growth slows to 0.3 percent in three months to Feb - NIESR

FILE PHOTO: The City of London financial district is seen with office skyscrapers commonly known as 'Cheesegrater', 'Gherkin' and 'Walkie Talkie' seen in London, Britain, January 25, 2018. REUTERS/Toby Melville/File Photo

LONDON (Reuters) - British economic growth weakened in the three months to February and is likely to soften further this month due to unusually snowy weather last week, the National Institute of Economic and Social Research estimated on Friday.

“We estimate that economic growth nudged lower to 0.3 per cent in the 3 months to February. Activity has eased slightly and is likely to slow further in March when the full impact of the recent extreme weather conditions will be realised,” NIESR economist Amit Kara said.

Britain’s economy grew 0.4 percent in the final three months of 2017 - a rate which the Bank of England judges to be about in line with the economy’s medium-term potential.

Reporting by David Milliken, editing by Andy Bruce

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