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'Stick to the plan' says Osborne after slower growth stats

The UK economy grew by 0.3% during the first quarter of 2015, the Office for National Statistics said today. The pace of growth was half the 0.6% rate seen in the final quarter of 2014 and the weakest quarterly growth since the end of 2012.

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Quarterly economic growth 'weakest since 2012'

Britain's economy is still growing, but it grew much slower in the first quarter of 2015 than it did at the end of last year.

Official figures show that GDP grew by 0.3% between January and March this year - half as much as it grew between October and December 2014, at 0.6%.

This is the weakest quarterly growth since the end of 2012 - and with the General election just nine days away, this will be seen as a major setback for the government.

The ONS puts the blame on a slower service sector, a shrinking construction industry, and a slight squeeze on industrial production caused by lower oil and gas prices.

ONS chief economist Joe Grice said: "As always, we warn against reading too much into one quarter's figures."

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