UK GDP Growth at 7-Year High

British GDP advanced 2.7 percent year-on-year in the last quarter of 2014, up from a 2.6 percent increase in the previous period and the highest since 2007.

Preliminary estimates showed agriculture output increased 2.1 percent, construction rose 3.5 percent and industrial production went up 0.7 percent. 

Among services, distribution, hotels and restaurants expanded 4.7 percent; transport, storage and communication increased 4.5 percent; business services and finance went up 4.0 percent and government and other services edged up 1.0 percent.

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.5 percent, slowing for the second consecutive quarter. 

Considering full 2014, the GDP grew 2.6 percent, the highest gain in seven years.

UK GDP Growth at 7-Year High

ONS | Joana Taborda |
1/27/2015 10:16:44 AM