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- U.K.: GDP unchanged / Business Investment declines / Sterling almost unchaged
U.K.: GDP unchanged / Business Investment declines / Sterling almost unchaged
The U.K. economy grew as expected by +0.5% in the fourth quarter of 2014, compared to +0.7% in the previous quarter. The figure was unrevised from the Office for National Statistics original estimate. Year on year the economy expanded +2.7%, also in line with expectations. The data underlined the optimism about the country's economy.
Business Investment fell at the fastest pace in almost six years by -1.4%, far below estimates of an increase of +2.3% and below a revised previous reading of -1.2% (revised from -1.4%). Lower oil prices led to declining investments in the energy sector. Year on year Business Investment rose less at a pace of +2.3% compared to revised +6.3% (+2.7%).
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