UK GDP increased by 0.2% between Quarter 3 and Quarter 4
According to the preliminary data from Office for National Statistics, UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.2% between Quarter 3 (July to Sept) 2018 and Quarter 4 (Oct to Dec) 2018; the quarterly path of GDP through 2018 remains unrevised.
In the output approach to measuring GDP, growth in the latest quarter was driven by professional, scientific, administration and support services within the services sector, while production and construction both contributed negatively to GDP growth.
In the expenditure approach to measuring GDP, private consumption and government consumption contributed positively, while gross capital formation and net trade contributed negatively to GDP growth.
Business investment decreased by 1.4% in Quarter 4 2018, the fourth consecutive quarter in which there has been a decrease in growth.
GDP growth was estimated to have slowed to 1.4% between 2017 and 2018, the weakest it has been since 2009.
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