UK GDP figures ‘quietly encouraging’

<p>Investors may be encouraged by the latest GDP data.</p>

The latest GDP data for the UK could prove to be encouraging for investors after the country was able to avoid slipping into a triple-dip recession.

Data released by the Office for National Statistics showed growth of 0.3 per cent in the first three months of the year, though the economy was revealed to have only expanded by 0.4 per cent in the last year-and-a-half.

Head of investment at Towry Andrew Wilson explained investors and commentators have all been desperate for "black and white answers" over the state of the economy, wanting to know whether it is recovering or not.

He said: "The concept of grey areas and a difficult and long-term recovery, with two steps forward and one step back – and indeed vice versa – has been anathema to both."  

Mr Wilson pointed out that professional investors are now starting to accept the fact that economic growth and interests rates are going to remain lower for longer.

The UK's interests rates have been kept at a record low for the country of 0.5 per cent since March 2009.

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