UK GDP Annual Growth Confirmed at 2.3%


The British economy advanced 2.3 percent year-on-year in the three months to September of 2015, slowing from a 2.4 percent expansion in the previous period and in line with preliminary estimates. The second release from the ONS confirmed the economy posted the worst performance since the third quarter of 2013 as imports grew faster than exports, bringing net external trade contribution to negative.

Household expenditure went up 3.1 percent, government spending grew 2.4 percent, non-profit institutions serving households’ consumption increased 1.3 percent and gross fixed capital formation expanded 3.4 percent (business investment up 6.6 percent). Exports went up 5.5 percent while imports increased at a faster 6.1 percent. 

On a quarterly basis, the GDP expanded 0.5 percent.

UK GDP Annual Growth Confirmed at 2.3%


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
11/27/2015 10:52:50 AM