Siobhan Kennedy: GDP figures well below expectations

9:57 AM

Siobhan is about to interview the Chancellor, George Osborne, minutes after this morning’s disappointing GDP figures have been announced.

She points out that these figures are lower than expected and also reveal that business services and finance which has been averaging steady growth of 1 per cent over the past four quarters is now down to just 0.1 per cent.

We’ll bring you breaking news of her chat when they wrap up.

UK GDP grew by 0.3 % in Q1, way below expectations of 0.6%

— siobhan kennedy (@siobhankennedy4) April 28, 2015

Figure is the slowest growth since 2012..sharp slowdown in construction, down 1.6%, production down 0.1 %, services up 0.5 %.

— siobhan kennedy (@siobhankennedy4) April 28, 2015

GDP breakdown is- manufacturing up 0.1%, mining, oil and gas down 2.1%, construction down 1.6%. Biggest drag biz services and finance -0.1%

— siobhan kennedy (@siobhankennedy4) April 28, 2015

Business services and finance has been averaging 1% or so over the last 4 quarters but now down to just 0.1.

— siobhan kennedy (@siobhankennedy4) April 28, 2015

Osborne aide says "it's a reminder you can't take the recovery for granted" waiting to speak to the Chancellor now

— siobhan kennedy (@siobhankennedy4) April 28, 2015