May 2013 GDP estimates

Our monthly estimates of GDP suggest that output grew by 0.8 per cent in the three months ending in April after growth of 0.3 per cent in the three months ending in March 2013. The base effect from the weak level of output in the January 2013 has inflated the quarterly rate of growth in both the production sector and broader economy in the three months to April 2013.Underlying growth is weaker than the headline figure suggests.