Economic Indicators, January 2012
This Research Paper series summarises the main economic indicators currently available for the UK, along with comparisons with other major OECD countries.
Economic situation
Briefing
The ONS revised up GDP growth in for Q3 2011 from 0.5% to 0.6%, although this stemmed from a downward revision to growth in the previous quarter from 0.1% to 0.0%. Despite Q3 figure being the largest quarterly increase in economic output in a year, the ONS said that growth was concentrated in a few areas of the economy and was not broad-based. Available indicators for Q4 2011 point toward a slowdown in GDP growth, with manufacturing output contracting and service sector growth slowing.
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