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- UK GDP remained unchanged in the fourth quarter
UK GDP remained unchanged in the fourth quarter
According to the report from Office for National Statistics, UK gross domestic product (GDP) in volume terms was flat in Quarter 4 (Oct to Dec) 2019, unrevised from the first quarterly estimate.
When compared with the same quarter a year ago, UK GDP increased by 1.1% to Quarter 4 2019, unrevised from the first quarterly estimate.
The services sector provided a positive contribution to growth in the output approach to GDP in Quarter 4 2019, however, this was offset by a negative contribution from the production sector.
Government consumption and trade added to growth in the expenditure approach to GDP in Quarter 4 2019, while private consumption and gross capital formation subtracted from growth.
There were 0.1 percentage point revisions to GDP growth, upwards in Quarter 1 (Jan to Mar) 2019 and downwards in Quarter 2 (Apr to June) 2019, as a result of updated source data.
UK GDP increased by 1.4% between 2018 and 2019, unrevised from the first quarterly estimate.
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