- GDP increased by 0.3% in Q1 2013 compared with Q4 2012, subject to revisions of on average 0.36%.
- GDP was 0.4% higher in Q1 2013 than in Q3 2011 and therefore has been broadly flat over the last 18 months.
- Largest contribution to Q1 2013 GDP growth came from services; these industries increased by 0.6% contributing 0.47 % to the 0.3% increase in GDP.
- Before the sharp fall in output in 2008 and 2009 the economy peaked in Q1 2008, the lowest level was in Q2 2009.
- GDP fell 6.3% from peak to trough.
- In Q1 2013 GDP was estimated to be 2.6% below the peak in Q1 2008.
Today's figures are an encouraging sign the economy is healing. Despite a tough economic backdrop, we are making progress.—
George Osborne (@George_Osborne) April 25, 2013
No triple dip…