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- UK gross domestic product increased by 0.4% in Q3
UK gross domestic product increased by 0.4% in Q3
UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.4% between Quarter 2 (Apr to June) and Quarter 3 (July to Sept) 2017, unrevised from the second estimate of GDP.
Services remained the strongest contributor to growth in the output approach to GDP in Quarter 3 2017, with production also providing a positive contribution.
Household spending grew by 0.5% in Quarter 3 2017, providing the strongest contribution to the expenditure approach to GDP; while growth has increased compared with the first two quarters of 2017, the underlying story is one of a slowdown in growth of household spending, with quarter on same quarter a year ago growth at 1.0%, the lowest rate since Quarter 1 (Jan to Mar) 2012.
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