By PRW Staff
The UK’s economic recovery remains strong, according to the latest figures from the Office for National Statistics.
GDP in 2014 as a whole was up 2.6% on 2013, and indeed was 2.7% higher in the fourth quarter of 2014 compared with the same period a year ago.
However the figure is estimated to have increased by just 0.5% in the last three months of 2014 compared with growth of 0.7% in the previous quarter.
Output increased in two of the four main industrial groupings within the economy in the fourth quarter of last year. Services rose by 0.8% in services and 1.3% in agriculture. In contrast, output decreased by 1.8% in construction and 0.1% in production.
Estimates put GDP in the fourth quarter of 2014 3.4% higher than the pre-economic downturn peak of early 2008. From the peak in the first quarter that year to the trough in the second quarter of 2009, the UK economy shrank by 6.0%.
For more information contact Mr Steve Crowhurst:
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