Friday, Mar 27, 2009
UK GDP: 2008 +0.7%; 4Q -1.6%; 4Q YoY -2.0%
ONS: GDP Growth Economy contracts by 1.6% in Q4 2008
GDP contracted by 1.6 per cent in the fourth quarter of 2008, revised down from a contraction of 1.5 per cent. GDP in the fourth quarter of 2008 is now 2.0 per cent lower than the fourth quarter of 2007. For the year 2008 as a whole, GDP rose by 0.7 per cent, unrevised from the previous estimate and down from 3.0 per cent in the previous year.
Output of the production industries fell 4.5 per cent compared with a fall of 1.8 per cent in the previous quarter, driven by the marked decline in manufacturing output.
Construction output fell 4.9 per cent over the quarter, revised down from a fall of 1.1 per cent published in the previous estimate. This was due to survey data replacing a forecast.
Output in the service industries fell 0.8 per cent in the fourth quarter, down from a fall of...
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1. 51ck-6-51x said...
UK PLC Quarterly Accounts - Q4 2008