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For additional information relating to this article, please contact:

Barbara Ruszel Economist
Tel: 902-424-1848Email: Basia.Ruszel-Lichodzijewska@novascotia.ca

January 29, 2018
UK GDP Q4 2017 (PRELIMINARY ESTIMATE)

The Office for National Statistics' preliminary UK Gross Domestic Product for Q4 2017 is an increase of 0.5 per cent or 2.0 per cent at an annualized rate, an increase from growth of 1.6 per cent in Q3 and 1.2 per cent in Q1 and Q2. Services GDP increased by 0.6 per cent driven by business services and finance, production was up 0.6 per cent due to strong growth in manufacturing, while construction (-0.9%) contracted for a third consecutive quarter.

GDP growth for the year was estimated at 1.8 per cent for 2017 slightly below 1.9 per cent in 2016. Agriculture production was down 0.4 per cent in 2017 and there was a 2.0 per cent increase in production as manufacturing output rose 2.7 per cent. Construction activity grew 5.1 per cent. Service GDP was up 1.6 per cent in 2017, slower than the 2.5 per cent growth in 2016.

 

 

Office for National Statistics



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