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February 23, 2017UK GDP Q4 (SECOND ESTIMATE)
The UK Office of National Statistics reported real GDP for the fourth quarter of 2016 grew by 0.7 per cent, revised up 0.1 percentage points from the preliminary estimates. That corresponded to a seasonally adjusted annualized rate of 2.9 per cent growth. The service sector continues to dominate GDP growth, contributing 0.6 percentage points with distribution, hotels and catering being the largest contributor. For production industries: manufacturing was up 1.2 per cent, electricity, gas, steam and air conditioning industries was up 3.1 per cent, water supply and sewerage increased 2.0 per cent but mining and quarrying decreased 7.0 per cent.
The growth rate for 2016 was revised down 0.2 percentage points to 1.8 per cent compared to preliminary estimates.
Office for National Statistics
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