U.K. Economy Expands 0.4% In Three Months Ended January: NIESR

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The U.K. economy grew 0.4% during three months to January, faster than the 0.1% growth seen in the three months ended December, the latest monthly estimates released by the National Institute of Economic and Social Research showed Wednesday.

"The improvement in the growth rate to January is more the consequence of the fact that output in October was very weak rather than a clear indication that a more substantial recovery is underway," the think-tank said.

The institute noted that output levels are similar to those in the early summer of last year. Further, the think-tank said the output is unlikely to pass its peak at the start of 2008 until the fourth quarter of 2012.

The U.K. economy grew 0.4% during three months to January, faster than the 0.1% growth seen in the three months ended December, the latest monthly estimates released by the National Institute of Economic and Social Research showed Wednesday. (Market News Provided by RTTNews)