In the fourth quarter, GDP contracted a seasonally adjusted 0.2% over the previous quarter, according to preliminary data released by the Office for National Statistics (ONS) on 25 January. The reading contrasted the 0.6% expansion tallied in the third quarter and undershot market expectations that had the economy contracting 0.1%. Compared to the same quarter the previous year, growth benefited from a favourable base effect and picked up to 0.8%, up from the third quarter's 0.5% increase. All main sectors deteriorated over the previous quarter. The industrial sector led the decline by contracting 1.2% (Q3 2011: +0.2% quarter-on-quarter), followed by construction, which dropped 0.5% (Q3 2011: +0.3% qoq). Moreover, output in the services sector remained flat over the previous quarter (Q3 2011: +0.7% qoq).
United Kingdom GDP
GDP declines in the final quarter of 2011
January 25, 2012
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United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.