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- U.K. gross domestic product (GDP) climbs 0.5% in the fourth quarter
U.K. gross domestic product (GDP) climbs 0.5% in the fourth quarter
The Office for National Statistics released its U.K. GDP data on Tuesday. The preliminary U.K. gross domestic product (GDP) climbed 0.5% in the fourth quarter, in line with expectations, after a 0.4% rise in the third.
The growth was mainly driven by a strong output in the services sector, which climbed 0.7% in the fourth quarter.
Construction fell 0.1% in the fourth quarter, while production declined 0.2%.
On a yearly basis, the preliminary U.K. GDP increased 1.9% in the fourth quarter, in line with forecasts, after a 2.1% gain in the third quarter. It was the slowest pace since the first quarter of 2013.
In 2015 as whole, U.K. GDP rose 2.2%, after a 2.9% growth in 2014.
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