Q3 GDP +0.8%

osborne7

Everything you need to know:

  • Change in gross domestic product (GDP) is the main indicator of economic growth. GDP increased by 0.8% in Q3 2013 compared with Q2 2013.
  • Output increased in all four main industrial groupings within the economy in Q3 2013 compared with Q2 2013.
  • Output increased by 1.4% in agriculture, 0.5% in production, 2.5% in construction, and 0.7% in services.
  • Output from services is now slightly above its previous peak in Q1 2008, prior to the economic downturn.
  • In Q3 2013 GDP was estimated to be 2.5% below the peak in Q1 2008. From peak to trough in 2009, the economy shrank by 7.2%.
  • GDP was 1.5% higher in Q3 2013 compared with the same quarter a year ago.

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