Mubasher: The UK gross domestic product (GDP) in the first quarter of 2018 increased to 0.1%, according to the second reading.

On a year-on-year basis, GDP growth in the three months ended March extended a slow pattern, partially reflecting a weaker pace in the growth of consumer-facing industries, the report released by the UK’s Office for National Statistics (ONS) showed on Friday.

Meanwhile, GPD per head in the UK shed 0.1% in the first quarter from the previous quarter, “reflecting population increasing at a greater rate than GDP.”

The services sector growth has 0.3% in the first three months of the year, while the growth in construction industry decreased 2.7%, rising from the 3.3% in the preliminary estimate.

As for business investment, growth decreased by 0.2% between the fourth quarter of 2017 and the first quarter of 2018.

In terms of household expenditure, it grew 0.3 in the three month ended March.

Meanwhile, compensation of employees rose 1.6% partially reflecting that earnings and employment increased in the same period.

 “While the bad weather had some impact on the economy, particularly in construction and some areas of retail, its overall effect was limited, with partially offsetting impacts in energy supply and online sales,” the ONS report added.

By 9:05 am GMT, the GBP/USD pair shed 0.09% to $1.3368, while the EUR/GBP rose 0.15% to GBP 0.8770.