The National Institute of Economic and Social Research's first quarter GDP estimate adds to the evidence that UK economy has slowed down considerably in the first quarter amid Brexit fears. The latest estimate shows GDP at 0.3% on the quarter, down from 0.6% in the fourth quarter of 2015. This is below estimates of trend and the weakest since the tail-end of 2012. The NIESR estimate comes a few hours after the release of a horribly weak February UK manufacturing production and record high UK trade deficit with EU. For more information, read our latest forex news.