UK Annual GDP Growth Revised Down to 2.1% in Q2


The British economy advanced 2.1 percent year-on-year in the second quarter of 2016, 0.1 percentage point lower than previously estimated, and following a 2 percent expansion in the previous period. Consumer spending and investment accelerated, final figures showed.

On the expenditure side, household spending increased 3 percent (+2.7 percent in Q1); and consumption of non-profit institutions advanced 2.3 percent (+1.4 percent in Q1); while and government spending slowed (+1.1 percent following +2.1 percent in Q1). Gross fixed capital formation rose 1 percent, up from a 0.3 percent increase in Q1. Exports went up 3.1 percent (+3 percent in Q1) and imports jumped 4.7 percent (+1.6 percent in Q1). 

On a quarterly basis, the economy advanced 0.7 percent, better than a 0.4 percent expansion in the previous three months and higher than the first reading of 0.6 percent. 

UK Annual GDP Growth Revised Down to 2.1% in Q2


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/30/2016 9:37:16 AM