UK GDP Growth Revised to 2.7% YoY in Q4


In the fourth quarter of 2013, UK's economy expanded 2.7 percent over a year earlier, revised down 0.1 percentage points from the previously estimated 2.8 percent increase. For full 2013, the economy advanced 1.8 percent, revised down 0.1 percentage points from the previously estimated 1.9 percent increase.

Household final consumption expenditure has been rising each quarter since Q1 2012 and was 2.4 percent higher in Q4 2013 than in the same period a year ago. Annually, between 2012 and 2013 household final consumption expenditure also increased by 2.4 percent - the highest annual growth rate since 2007.

Government final consumption expenditure increased by 1.9 percent yoy, following a 2 percent rise in the previous quarter. In 2013, government final consumption expenditure increased by 0.9 percent.

Gross fixed capital formation advanced 6.8 percent over a year earlier, after rising 4.8 percent in the previous three-month period. Business investment surged 8.5 percent yoy after contracting 2.4 percent in the September quarter. From January to December 2013, gross fixed capital formation fell by 0.5 percent. 

While exports recovered from the previous quarter contraction and rose 0.7 percent, imports slowed to 0.4 percent. Between 2012 and 2013 exports increased by 0.8 percent and imports by 0.4 percent.

On a quarter-on-quarter basis, the economy expanded 0.7 percent in the last three months of 2013, unrevised from the initial estimate. 

UK GDP Growth Revised to 2.7% YoY in Q4


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2014 10:26:27 AM