UK GDP up 0.7 per cent

UK GDP grew by 0.7 per cent in the fourth quarter of 2013, according to the latest quarterly national accounts from the Office for National Statistics (ONS).

UK GDP grew by 0.7 per cent in the fourth quarter of 2013, according to the latest quarterly national accounts from the Office for National Statistics (ONS).

The key points from the latest release from the ONS are:

  • Change in gross domestic product (GDP) is the main indicator of economic growth. GDP increased by 0.7% in Q4 2013 compared with Q3 2013.

  • Output increased in three of the four main industrial groupings within the economy in Q4 2013 compared with Q3 2013. Output increased by 0.5% in agriculture, 0.7% in production and 0.8% in services. However, output decreased by 0.3% in construction.

  • In Q4 2013 GDP was estimated to be 1.3% below the peak in Q1 2008. From peak to trough in 2009, the economy shrank by 7.2%.

  • GDP was 2.8% higher in Q4 2013 compared with the same quarter a year ago. GDP is estimated to have increased by 1.9% in 2013, compared with 2012.

  • The preliminary estimate of GDP is produced using the output approach to measuring GDP. At this stage, data content is less than half of the total required for the final output estimate. The estimate is subject to revision as more data become available, but these are typically small between the preliminary and third estimates of GDP. All figures in this release are seasonally adjusted.

One Response to “UK GDP up 0.7 per cent”

  1. neilcraig

    Yesterday Richard Bacon on the BBC stated that this meant that Britain and the US have “the fastest growth in the world”. Of course nobody pretends that the BBC is naytyhing other than a wholly corrupt, totalitarian, fascist propaganda organisation, that will rell absolutely any lie and censor absolutely any fact to promote the thieving parasites in Westminster. Nobody with the slightest trace of honesty can, by definition work for these whores.

    Nonetheless that that is a remarkable lie by even BBC standards. The truth is that far from being the fastest growth in the world – the US is growing more slowly than the world AVERAGE of 4% (with the EU in recession the non-EU average is near 6%) and Britain, of course, is below the US’s below average performance.

    One can see why the Westminster thieves are so keen that the BBC lie to support them. It is obvious that if our ruling parasites really wished an end to recession they could at least match the non-EU average.

    Nonetheless, cynical as I am about our Ministry of Truth broadcasters I am surprised that the BBC told and have decided to publicly maintain a lie so gross and easily checked.

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