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- Final U.K. GDP grows at 0.4% in the first quarter
Final U.K. GDP grows at 0.4% in the first quarter
The Office for National Statistics (ONS) released its final gross domestic product (GDP) data on Tuesday. The final U.K. GDP expanded at 0.4% in the first quarter, beating May's estimate of a 0.3% gain, after a 0.8% rise in the fourth quarter.
The upward revision was driven by methodological changes in construction.
On a yearly basis, the revised U.K. GDP rose 2.9% in the first quarter, eating May's estimate of a 2.4% increase, after a 3.4% gain in the fourth quarter.
The service sector climbed 0.4% in the first quarter, the construction sector dropped 0.2%, while the production sector was up 0.2%.
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