UK GDP Growth Confirmed at 0.7% in Q4


UK's GDP rose 0.7 percent on a quarter-on-quarter basis in the last three months of 2013, matching initial estimates and recording its fourth consecutive quarter of growth. Compared with the same quarter of 2012, the GDP expanded 2.7 percent, revised down 0.1 percentage points from the previously estimated 2.8 percent increase.

Output of the agriculture, forestry & fishing industries fell by 0.1 percent between Q3 and Q4 2013, revised down from the previously estimated 0.5 percent increase and was the only top level industry not to have increased in Q4 2013. This follows a decrease of 2.7 percent in Q3 2013.

Total production output grew by 0.5 percent in Q4 2013 compared with Q3 2013. Mining and quarrying including oil & gas extraction was the only industry to decrease in this period, falling by 1.9 percent. 

Manufacturing output increased by 0.7 percent between Q3 2013 and Q4 2013 revised down 0.2 percentage points from the previous estimate. Between Q2 2013 and Q3 2013 manufacturing output rose by 0.8 percent.

Construction output rose by 0.2 percent in Q4 2013, revised up from the previously estimated 0.3 percent decrease and follows a 2.6 percent increase in the previous quarter. 

The service industries grew by 0.8 percent in Q4 2013, unrevised from the previous estimate following an identical 0.8 percent increase in Q3 2013. There were across the board increases for all service industries in the latest quarter. Service industries output has increased in every quarter compared with the same quarter a year ago since Q2 2010.

UK GDP Growth Confirmed at 0.7% in Q4


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2014 9:58:54 AM