UK GDP grew by 0.2%

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Thursday, May 25 2017

UK GDP grew by 0.2%

UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.2% between Quarter 4 (Oct to Dec) 2016 and Quarter 1 (Jan to Mar) 2017. UK GDP growth in Quarter 1 2017 has been revised down by 0.1 percentage points from the preliminary estimate published on 28 April 2017; mainly due to broad-based downward revisions within the services sector.

UK GDP growth slowed to 0.2% in Quarter 1 2017 as consumer facing industries such as retail and accommodation fell and household spending slowed. This was partly due to rising prices. Construction and manufacturing also showed little growth, while business services & finance continued to grow strongly. GDP in current prices increased by 0.7% between Quarter 4 2016 and Quarter 1 2017. GDP per head in volume terms was flat between Quarter 4 2016 and Quarter 1 2017.

More in this category: « Youth unemployment still a big issue in Eurozone Unemployment Claims increased to 234,000 »

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