Everything you need to know about today’s GDP figures in one place:
- GDP increased by 0.7% in Q4 2013 compared with Q3 2013.
- Output increased in three of the four main industrial groupings within the economy in Q4 2013 compared with Q3 2013.
- Output increased by 0.5% in agriculture, 0.7% in production and 0.8% in services.
- However, output decreased by 0.3% in construction.
- In Q4 2013 GDP was estimated to be 1.3% below the peak in Q1 2008.
- From peak to trough in 2009, the economy shrank by 7.2%.
- GDP was 2.8% higher in Q4 2013 compared with the same quarter a year ago.
- GDP is estimated to have increased by 1.9% in 2013, compared with 2012.
The ONS’ conclusion: growth is not strong but the economy seems to have “a better tone” than previous years.