April 2013 GDP estimates

Our monthly estimates of GDP suggest that output grew by 0.1 per cent in the three months ending in March after growth of 0.1 per cent in the three months ending in February 2013. Production sector output picked up sharply in February 2013, but this was largely a reversal the sharp drop in output in January. Our estimates suggest that both production sector output and the broader economy were broadly flat in the first quarter of this year.

NIESR’s latest quarterly forecast (published 5^th February 2013) projects growth of 0.7 per cent per annum this year and 1.5 per cent in 2014.