LONDON - Official figures show that Britain's economy grew by a weaker than expected 0.1 per cent in the second quarter, a downgrade that could pile the pressure on the Bank of England to back another monetary stimulus.
The Office for National Statistics had previously estimated that GDP grew by 0.2 per cent. The agency said Wednesday that decreases in production industries and household consumption were largely behind the lower growth rate.
It also reduced first quarter growth to 0.4 per cent from 0.5 per cent previously.
The lower than anticipated growth rates come as the Bank of England's Monetary Policy Committee began its monthly two-day meeting amid growing expectations that it will approve a new stimulus.