Gross domestic product expanded by 0.3 per cent in the three months to the end of March, compared with 0.7 per cent in the final quarter of 2016, the Office for National Statistics said in a statement.
Analysts' consensus forecast had been for first-quarter growth of 0.4 per cent, with the worse-than-expected result mainly attributable to a slowdown in services sector output, the ONS said.
"That is probably fair, albeit in an indirect sense. The fears leading up to Brexit were that growth would stall due to a dive in confidence, hiring and investment," he said.
"That hasn't happened. What did happen is the pound dived, pushing inflation sharply higher and that is causing consumer spending and hence overall growth to slow," Clarke added in a note to clients.
Also Read
The update comes as Britain awaits a general election on June 8 after Prime Minister Theresa May last week called for a snap vote.
Tensions rose yesterday when May accused the other 27 EU countries of lining up to oppose Britain after Germany's Angela Merkel said the UK should have no "illusions" over the exit process.
EU nation leaders have stressed a united stance as they plan to meet Saturday to set down the bloc's "red lines" -- although the talks will not begin until after the British election.
May started the process of leaving the EU last month, while opinion polls suggest her Conservatives will return to power in June with an increased majority.
In a letter to leaders of the remaining 27 European Union countries ahead of the summit on Saturday, Tusk said that "before discussing our future, we must first sort out our past."
The EU says the key issues are the fate of three million EU citizens living in Britain and one million Britons resident in the EU, Britain's exit bill estimated at around 60 billion euros (USD 66 billion), and the fate of the border between Ireland and the British province of Northern Ireland.
Disclaimer: No Business Standard Journalist was involved in creation of this content