GDP grew by 0.8 per cent in the first quarter: less than the 1.0 per cent we forecast a month ago, predominantly due to weaker services growth. Supply-chain problems in the motor industry contributed significantly but there was weak growth in much of the retail sector. • With consumer confidence indicators continuing to weaken we expect growth to be largely flat in April and close to flatlining in the second quarter overall. • The first estimate of GDP expenditure components for the first quarter was for a decline in business investment of 0.5 per cent. With uncertainty from the war in Ukraine likely to weigh on ... (full story)