UK economic growth slows, raising recession concerns

By DANICA KIRKA
Associated Press

LONDON (AP) — Britain’s economy grew at the slowest pace in a year during the first quarter as retailers and manufacturers were hurt by supply disruptions and higher prices. That’s raising concerns that the U.K. may be headed for a recession. The Office for National Statistics says gross domestic product, the broadest measure of economic activity, rose 0.8% in the period, slowing from 1.3% in the previous quarter. Monthly estimates indicate GDP shrank by 0.1% in March. Paul Dales, chief U.K. economist at Capital Economics, says the figures “suggest the economy had less momentum than we thought even before the full hit from the cost of living crisis has been felt.”