UK GDP Growth Revised Down to 2.6% in Q3

The British economy expanded 2.6 percent year-on-year in the third quarter of 2014, compared with a previous estimate of 3 percent, due to lower business investment and higher imports.

Gross fixed capital formation advanced 6.4 percent, slowing from a 7.1 percent increase initially estimated. Business investment increased 5.2 percent, down from 6.3 percent previously reported. 

Exports fell 0.9 percent and imports shrank 1.4 percent, compared with -1 percent and -2.4 percent in the prior estimates.

Household final consumption was 2.5 percent higher in Q3 2014 (2.4 percent in the previous estimate). Government final consumption expenditure increased at a faster 1.9 percent (1.7 percent previously reported) and consumption of non-profit institutions serving households rose 2.0, doubling from 1 percent in earlier estimates.

On a quarter-on-quarter basis, the economy advanced 0.7 percent, matching previous estimates. 

UK GDP Growth Revised Down to 2.6% in Q3

ONS | Joana Taborda |
12/23/2014 10:51:41 AM