Investing
UK GDP rises to 0.6%
Written By:
Alasdair Pal
Posted:
Updated:
25/07/2013
The UK recorded 0.6% of second quarter GDP growth, in line with analysts’ expectations and double the first quarter’s 0.3% figure.
All four major industrial groupings – agriculture, production, construction and services – experienced growth during the period, according to the Office for National Statistics.
The service industry contributed that largest boost to growth, contributing 0.48% to the figure.
Construction output increased by 0.9% compared with Q1 2013. In Q1 2013 construction output was at its lowest level since Q1 2001.
The news means the UK’s annual growth rate of 1.4% is the strongest the first quarter of 2011.
