ONS revise GDP growth up to 0.6%

UK GDP is estimated to have increased by 0.6% between Q3 and Q4 2014, revised up 0.1 percentage points from the previous estimate of GDP published in February.

Related topics:  Finance News
Rozi Jones
31st March 2015
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For the year as a whole, GDP is estimated to have increased by 2.8%, revised up 0.2 percentage points -  the fastest expansion since 2006.

The growth is largely down to agriculture, production and services, while construction suffered a downgrade.

Between Q4 2013 and Q4 2014, GDP in volume terms increased by 3.0%, revised up 0.3 percentage points.

In Q4 2014, GDP per head increased by 0.5% compared with Q3 2014. This was slightly lower than the 0.6% increase in GDP in the same period. In Q4 GDP per head remained 1.2% below its pre-economic downturn peak level while GDP exceeded the level of its pre-downturn peak in Q3 2013, and in Q4 2014 was 3.7% above its pre-downturn peak.

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