UK Economy
UK economy is growing faster than previously estimated
By Finfacts Team
Dec 20, 2013 - 11:23 AM

Printer-friendly page from Finfacts Ireland Business News - Click for the News Main Page - A service of the Finfacts Ireland Business and Finance Portal

The UK economy is growing faster than previously estimated, according to the latest official figures. The Office for National Statistics (ONS) said today that gross domestic product was up 0.8% in the July-to-September period compared with the previous quarter, confirming its previous estimate.However, it revised its growth figures for earlier quarters.

Estimated annual growth rate grew by 1.9% compared with a previous estimate of 1.5%.

The ONS said later data for expenditure, in particular household final consumption expenditure, has led to upward revisions for GDP since Q1 2012. As a result, between 2011 and 2012, GDP in volume terms rose by 0.3%, an upwards revision of 0.2 percentage points from the previously published 0.1% increase.

Check out our subscription service, Finfacts Premium , at a low annual charge of €25


© Copyright 2011 by Finfacts.com