UK GDP Growth Confirmed at 0.5% in Q4
The British economy grew 0.5 percent in the last three months of 2014, slowing from a 0.7 percent rise in the previous period, second estimates released by the Office for National Statistics showed.
Gross capital formation shrank 1.2 percent, following a 4.6 percent increase in the previous period and mainly due to a 1.4 percent fall in business investment.
Household consumption rose at a slower 0.5 percent (0.7 percent in Q3) while government expenditure showed no growth. Exports went up 3.5 percent, after falling in the previous two quarters and imports grew 1.3 percent
On the production side, increases were recorded for agriculture, forestry and fishing (1.6 percent), production (0.1 percent) and services (0.8 percent). The only component to decrease was construction (-2.1 percent).
Year-on-year, the GDP advanced at its fastest pace in seven years (2.7 percent), bringing full year growth to 2.6 percent.
2/26/2015 11:12:23 AM