- Revised U.K. GDP grows at 0.3% in the first quarter, the slowest pace since the fourth quarter of 2012
Market news
28 May 2015
Revised U.K. GDP grows at 0.3% in the first quarter, the slowest pace since the fourth quarter of 2012
The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Thursday. The revised U.K. GDP expanded at 0.3% in the first quarter, missing expectations for a 0.4 gain, after a 0.5% rise in the fourth quarter. It was the slowest pace since the fourth quarter of 2012.
On a yearly basis, the revised U.K. GDP rose 2.4% in the first quarter, missing forecasts of a 2.5% increase, after a 3.0% gain in the fourth quarter.
The service sector climbed 0.5% in the first quarter, the construction sector dropped 1.6%, and the production sector was down 0.1%, while agriculture sector decreased 0.2%.
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