UK GDP Expands 0.5% in Q4

The British economy advanced 0.5 percent on quarter in the last three months of 2015, accelerating from a 0.4 percent growth in the previous period and in line with market expectations, preliminary estimates showed. Services contributed 0.52 percentage point to the expansion while industry subtracted 0.03 percentage point.

Services advanced by 0.7 percent, following a 0.6 percent growth in the previous period. The main reason behind stronger expansion in services was 0.9 percent growth in business services and finance (0.6 percent in Q3). 
Industry fell by 0.2 percent, with mining and quarrying shrinking by 1.4 percent (+2.6 percent in Q3); water and waste management decreasing by 0.4 percent (+0.3 percent in Q3) and energy supply falling by 0.2 percent (+1 percent in Q3). In contrast, manufacturing remained unchanged, following a decrease of 0.4 percent in Q3. There was a downward contribution from construction (0.01 percentage points), which fell by 0.1 percent (-1.9 percent in Q3).

Year-on-year, the economy expanded 1.9 percent in the last three months of 2015, slowing from a 2.1 percent growth in the September quarter, the lowest in nearly three years. 

Considering full 2015, the GDP grew 2.2 percent, lower than 2.9 percent in 2014.

UK GDP Expands 0.5% in Q4

ONS | Joana Taborda |
1/28/2016 11:52:41 AM