UK GDP Growth Confirmed at 0.7% QoQ in Q2


UK's gross domestic product increased by 0.7 percent between Q1 2013 and Q2 2013, unrevised from the previous estimate. The increase was broad based, with all three major industry groups, services, production and construction making positive contributions.

The service industries grew by 0.6 percent in both Q2 2013 and Q1 2013. The 0.6 percent increase in Q2 was unrevised while service industries output in Q1 was revised up from the previously estimated 0.5 percent increase. Most service industries experienced positive growth in the quarter with the exception of financial and insurance activities which decreased by 1.6 percent, public administration, defence and social security which decreased by 0.4 percent and other services which also decreased by 0.4 percent.

Production output increased by 0.8 percent, revised up from the previously estimated 0.6 percent increase, and follows a 0.5 percent increase in Q1 2013. Manufacturing output increased by 0.9 percent between Q1 2013 and Q2 2013, the highest quarter on quarter growth since Q3 2010 when output increased by 1.2 percent. The increase in Q2 2013 was previously estimated to be 0.7 percent. Between Q4 2012 and Q1 2013 manufacturing output was unchanged. 

Output of the agriculture, forestry and fishing industries rose by 2.0 percent in Q2 2013, revised up from the previously estimated 1.7 percent increase. This follows a decrease of 5.1 percent in Q1 2013.

Electricity, gas, steam and air conditioning supply was the only production industry to contract, falling by 2.1 percent in Q2 2013 compared with an increase of 1.4 percent in Q1 2013. Construction output rose by 1.9 percent in Q2 2013, revised up from a 1.4 percent increase, following a decrease of 1.3 percent in the previous quarter.

UK GDP Growth Confirmed at 0.7% QoQ in Q2


ONS | Nuno Fontes | nuno@tradingeconomics.com
9/26/2013 9:45:28 AM