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January 27, 2015UK GDP, 2014Q4 (PRELIMINARY ESTIMATE) The UK economy slowed in the fourth quarter to 2.0 per cent growth (seasonally adjusted annualized rate) compared to 3.1 per cent the previous quarter according to the preliminary estimate released today by the UK Office of national statistics. Compared to the fourth quarter of 2013, UK GDP was 2.7 per cent higher. Output increased in services and agriculture but decreased in construction and production.
For 2014, UK GDP grew at its fastest pace since 2006, 2.6 per cent. Manufacturing grew 2.5 per cent, after four years of declines and construction was up 6.0 per cent. Services were up 3.0 per cent led by growth in distribution, hotels, & restaurants (+4.4%) and business services & finance (+3.9%).
UK Office for National Statistics