UK GDP up 0.7 per cent

Green Politics

UK GDP grew by 0.7 per cent in the third quarter of 2014, according to the latest quarterly national accounts from the Office for National Statistics (ONS).

UK GDP grew by 0.7 per cent in the third quarter of 2014, 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 Q3 2014 compared with growth of 0.9% in Q2 2014.
  • Output increased in all four main industrial groupings within the economy in Q3 2014. In order of their contribution, output increased by 0.7% in services, 0.5% in production, 0.8% in construction and 0.3% in agriculture.
  • GDP was 3.0% higher in Q3 2014 compared with the same quarter a year ago.
  • In Q3 2014 GDP was estimated to have been 3.4% higher than the pre-economic downturn peak of Q1 2008. From the peak in Q1 2008 to the trough in Q2 2009, the economy shrank by 6.0%.
  • 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 revisions are typically small between the preliminary and third estimates of GDP.

 

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7 Responses to “UK GDP up 0.7 per cent”

  1. Guest

    You’re confusing “Labour” and “Coalition” I see.
    Keep calling trade and decent wages a “extortion racket” though.

    (And your lack of knowledge of history, when the Tories and Labour are both taking the Tory side now, compared to 1945…)

  2. Sandra Lee

    This information can not but rejoice. However the situation with EU is really very hard, and it is important for our country try to become stable while other countries make mistakes. Also I do not want to spend all our money for the help to other countries, but I think the government will find good ways to invest money for the development and this will lead to growth. For people who still have monetary problems I can recommend to get help with payday loans online any time. This service provides help even to people with bad credit history unlike the banks.

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