John McDonnell responding to ONS' GDP monthly estimate for February 2019

John McDonnell MP, Shadow Chancellor, responding to figures showing that GDP growth in the three months to February 2019 was just 0.3%, said:

"These weak growth figures are a direct result of this Government’s Brexit bungling and long-running economic mismanagement.

"The Tories lack both competence and vision on the economy, as yesterday’s double downgrade by the IMF confirms.

"Only a Labour Government would will invest to grow, rebuilding the economy for the many not the few."

Ends

Notes to Editors:

• ·         ONS’ GDP monthly estimate for February 2019 shows 0.3% GDP growth in the three months to February 2019, noting that the construction sector contracted by 0.6% over the same period:

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/february2019

• ·         IMF World Economic Outlook yesterday downgraded forecasts for UK growth for 2019 and 2020 (compared to January 2019 forecasts) by 0.3% and 0.2%, respectively (see p. 8, Table 1.1): https://www.imf.org/~/media/Files/Publications/WEO/2019/April/English/text.ashx?la=en