UK Annual GDP Growth Eases to 1.9%


The British economy advanced 1.9 percent year-on-year in the last three months of 2015, slowing from a 2.1 percent growth in the previous period, in line with preliminary estimates. It is the worst performance since the first three months of 2013 mainly due to a slowdown in gross fixed capital formation and exports, figures from ONS second estimate showed.

Year-on-year, household spending grew 3.1 percent, the same as in the previous quarter while growth accelerated for government spending (2.5 percent from 1.7 percent in the previous period) and non-profit institutions serving households’ consumption (3.2 percent from 1.22 percent) but slowed for gross fixed capital formation (2.7 percent from 2.9 percent). Exports (2.1 percent from 6.1 percent) and imports (4.8 percent from 6.5 percent) grew at a slower pace.

Quarter-on-quarter, the economy advanced 0.5 percent, also in line with preliminary estimates.

Considering full 2015, the GDP grew 2.2 percent, lower than 2.9 percent in 2014 as growth slowed for government spending (1.7 percent from 2.5 percent), gross fixed capital formation (4.2 percent from 7.3 percent), remained steady for non-profit institutions serving households’ consumption at 0.9 percent and accelerated for household spending (3 percent from 2.6 percent), exports (5 percent from 1.2 percent) and imports (6.2 percent from 2.4 percent).

UK Annual GDP Growth Eases to 1.9%


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/25/2016 10:55:52 AM