U.K. annual first-quarter GDP growth revised down to 2.3% (by William L. Watts)

LONDON (MarketWatch) -- The British economy grew more slowly than previously estimated in the first quarter, the Office for National Statistics reported Friday. The economy expanded by 0.3% from the previous quarter, for a year-on-year gain of 2.3%. The ONS had previously estimated quarterly growth of 0.5% and annual growth of 2.5%. Consensus expectations were for Friday's figures to match the earlier estimates.