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Barbara Ruszel Economist
Tel: 902-424-1848Email:

February 22, 2018

The Office for National Statistics' second estimate of UK Gross Domestic Product for Q4 2017 is an increase of 0.4 per cent or 1.6 per cent at an annualized rate, a decrease from the preliminary estimate of 2.0 per cent annualized growth. Services GDP increased by 0.6 per cent driven by non-government services, production was up 0.5 per cent due to strong growth in manufacturing, while construction (-0.7%) contracted for a third consecutive quarter.

GDP growth for the year was estimated at 1.7 per cent for 2017, revised down by 0.1 percentage points. Household expenditure growth slowed but gross capital formation made a larger contribution to growth than in 2016. Net trade added 0.4 percentage points to GDP growth after being a net negative in 2016.



Office for National Statistics

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