UK economy grows by 0.5% in first quarter of 2011

Data from The Office for National Statistics (ONS) showed that the UK economy grew by 0.5% in the first three months of 2011, compared to a contraction of 0.5% for the last three months of 2010. Some economist had predicted growth of 1% in this same period, therefore it is expected that this will lessen the chance of an early interest rate rise.