Snowy weather clouds the picture, but experts united in concern over UK economy's health

Published on Tuesday 25 January 2011 18:53

"Typically, weather-related influences tend to cause only a temporary impact on growth, hence there is likely to be a bounce back during the first quarter of 2011. What is yet to be seen is whether the slowdown that was not weather-related is temporary or not." Alan Clarke, UK economist at BNP Paribas

"This morning's shocking GDP figures should act as a wake-up call, providing a stark reminder of the critical role construction plays in the UK economy."

Alasdair Reisner, Civil Engineering Contractors Association

"The sharp fall in activity should serve as a stark warning that growth and the recovery cannot be taken for granted. Manufacturing remains the one bright spot on the landscape."

Jeegar Kakkad, EEF senior economist

"The UK's shockingly bad Q4 GDP figures revealing a 0.5 per cent quarterly drop will raise serious concerns over whether the economy strong enough to withstand the coming fiscal tightening."

Jonathan Loynes, chief European economist at Capital Economics

"The chances of a double-dip recession have surely increased. The data will surely cause the Monetary Policy Committee to pause for thought before considering any rate rise."

Chris Williamson, chief economist at Markit

"These figures are quite staggering and scarcely believable."

Andrew Goodwin, senior economic adviser at the Ernst & Young ITEM Club

"It will be some months before the true picture of the UK economy's underlying performance becomes clear."

Ian McCafferty, CBI chief economic adviser