The British economy just got an upgrade

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David Cameron

REUTERS/Luke MacGregor

The Office for National Statistics just released its final estimate of UK GDP for the fourth quarter.

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The top line is that growth was a little faster than expected: 0.6% in the final three months of the year, and 3% over the year as a whole.

Analysts had expected 0.5% in the final three months and 2.7% for the year overall.

Here's how it breaks down:

  • Overall GDP rose by 0.6% from the third quarter to the fourth.
  • And it's up 3% in comparison to the fourth quarter in 2013.
  • Business investment increased by 3.7% after a big miss on expectations in the third quarter.
  • The "index of services" - effectively the output of Britain's dominant services sector, rose by 0.8% quarter on quarter

Here's how the last several years look for the British economy:

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Uk economy

ONS, Business Insider


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