UK gross domestic product (GDP) in volume terms
was estimated to have increased by 0.7% between Q1 2013 and Q2 2013, revised up
by 0.1 percentage points from the previously published estimate.
The Office for National Statistics said the
upwards revision to GDP between the first and second estimate can be attributed
to small upwards revisions across a number of the main industrial groupings.
GDP in volume terms increased by 1.5% when comparing Q2 2013 with Q2 2012. In
current prices GDP was estimated to have increased by 0.4% between Q1 2013 and
All expenditure components -- with the exception
of non-profit institutions serving households - - contributed positively to the
0.7% increase in GDP between Q1 2013 and Q2 2013.
Compensation of employees -- which includes both
wages & salaries and pension contributions - - increased by 2.4% in Q2 2013, the
highest quarterly increase since Q3 2000 when it also increased by 2.4%. The
increase in Q2 2013 partly reflects unusually high bonus payments in April 2013.
The ONS said that the current rate of
economic growth was still well below the rate experienced during previous
recoveries from recessions since 1945 - - during which
the economy has typically enjoyed a short burst of growth as it caught up with
its pre-recession level.
The revised data confirmed that all four major
sectors of the economy - - services, industry, agriculture and construction -
had expanded during the three months to June.
However, only the service sector has grown
steadily since the 2008-09 recession ended, while the UK's manufacturing sector
had previously continued to contract.
The latest index of service sector activity,
published by the ONS on Friday, showed output in the sector was 2.8% higher
in June than a year earlier, led by financial services, and hotels and
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