Economic outlook

This month will see the release of the initial estimate of economic growth in the first quarter of 2012, which will show whether or not the UK has avoided recession (for now). Overall, the latest economic data suggest the UK economy will expand at the start of the year, with the latest leading indicators pointing to growth in both the manufacturing and services sectors. An easing of concerns about an immediate financial crisis in the eurozone means that the shortterm economic outlook looks better now than at the start of the year.