• UK GDP growth accelerated in line with forecasts in Q1

Market news

28 June 2019

UK GDP growth accelerated in line with forecasts in Q1

According to the report from Office for National Statistics, UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.5% in Quarter 1 (Jan to Mar) 2019, unrevised from the first estimate for this quarter.

When compared with the same quarter a year ago, UK GDP increased by 1.8% to Quarter 1 (Jan to Mar) 2019; up from 1.4% in the year to Quarter 4 (Oct to Dec) 2018.

The services sector provided the largest contribution to growth in the output approach to measuring GDP, while production also contributed positively, due largely to growth of 1.9% in manufacturing output. Household expenditure, government consumption and investment contributed positively to GDP growth in Quarter 1 2019, while net trade contributed negatively.

Nominal GDP increased by 0.9% in Quarter 1 2019, revised down from the first estimate of 1.0%, in part reflecting weaker than expected wages and salaries data.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.