The UK GDP - gross domestic product - in volume terms rose by 0.3 per cent between the fourth quarter of 2007 and the first quarter of 2008, the Office for National Statistics said today. This is revised down from the previous estimate of 0.4 per cent. The level of GDP is 2.3 per cent higher than the first quarter of 2007.

Between the fourth quarter of 2007 and the first quarter of 2008:

The total volume of output in the production industries fell by 0.2 per cent, although, within this, manufacturing rose by 0.4 per cent.

Construction output rose by 0.4 per cent over the quarter and the output of the service industries increased by 0.3 per cent.

In the sector accounts:

The household saving ratio was 1.1 per cent in the latest quarter compared with 3.0 per cent in the previous quarter (Table J3).

Private non-financial corporations showed net lending of £0.2 billion in the latest quarter, compared with net borrowing of £3.2 billion in the previous quarterGDP analysed by output categories, chained volume measures

The output of the agriculture, forestry and fishing industries rose by 0.6 per cent compared with the previous quarter. The total volume of output in the production industries fell by 0.2 per cent compared with a rise of 0.2 per cent in the previous quarter.

Manufacturing output rose by 0.4 per cent compared with no growth in the previous quarter. The output of the mining and quarrying industries fell by 4.7 per cent in the latest quarter. Electricity, gas and water supply fell by 1.3 per cent in the latest quarter.

Construction output rose by 0.4 per cent in the latest quarter compared with a rise of 0.9 per cent in the previous quarter.

Services output grew by 0.3 per cent in the latest quarter, compared with 0.6 per cent in the previous quarter.

Distribution, hotels and catering output rose by 0.3 per cent; transport, storage and communication output rose by 0.7 per cent; business services and finance output rose by 0.2 per cent; government and other services output rose by 0.4 per cent.