UK GDP Contracts 0.3% in Q4

UK gross domestic product (GDP) in volume terms decreased by 0.3 per cent in the fourth quarter of 2011, revised from a decline of 0.2 per cent previously estimated. For the year 2011, GDP in volume terms increased by 0.7 per cent.

Output of the production industries fell by 1.3 per cent, within which manufacturing fell by 0.7 per cent

Output of the service industries fell by 0.1 per cent, while output of the construction industry fell by 0.2 per cent.

Household final consumption expenditure increased by 0.4 per cent in volume terms in the latest quarter.

In current price terms, compensation of employees rose by 0.9 per cent in the fourth quarter of 2011.

UK GDP Contracts 0.3% in Q4, UK Office for National Statistics
3/28/2012 2:47:44 PM