UK GDP Growth Matches Expectations in Q4 2013


In the fourth quarter of 2013, UK's GDP grew 0.7 percent over the previous quarter, boosted by the services sector. Though matching market expectations, preliminary estimates showed the economy slowed in the last three months of 2013 from a 0.8 percent growth rate recorded in the previous two quarters.

Agriculture output increased by 0.5 percent in Q4 2013, following a decrease of 3.2 percent in the previous quarter. 

The index of production increased by 0.7 percent, following an increase of 0.6 percent in Q3 2013. Manufacturing contributed the most to the increase, followed by energy supply.

The index for government and other services increased by 0.6 percent in Q4 2013, following an increase of 0.4 percent in the previous quarter. 

Construction output decreased by 0.3 percent, after rising 2.6 percent in the previous quarter. 
The index for distribution, hotels and restaurants increased by 0.5 percent, slowing from 1.1 percent in the previous quarter. Motor vehicle trade made the largest positive contribution to the increase. 

The index for transport, storage and communication increased by 0.2 percent in Q4 2013, the same rate recorded in the September quarter. Motion picture, video and TV programme production made the largest contribution to the increase. 

The index for business services and finance increased by 1.2 percent in Q4 2013, unchanged from 1.2 perrcent in the previous quarter. Employment activities made the largest positive contribution to the increase. 

The GDP was 2.8 percent higher in Q4 2013 compared with the same quarter a year ago. The  economy is estimated to have increased by 1.9 percent between 2012 and 2013.

UK GDP Growth Matches Expectations in Q4 2013


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
1/28/2014 10:22:06 AM