Economic Indicators, October 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 its estimate of GDP in the second quarter, from a 0.5% contraction to a 0.4% fall compared with the previous quarter. GDP has declined for three successive quarters. Household consumption, which makes up around two-thirds of GDP, was down by 0.2%. The contrast with more positive labour market data continues, with employment rising by 240,000 and unemployment relatively flat in the May-July compared with the previous quarter.
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