Economic Indicators, September 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 higher its estimate of GDP in the second quarter, from a 0.7% contraction to a 0.5% 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 0.4%, while investment fell by 3.1%. The contrast with more positive labour market data continues, with employment rising by just over 200,000 and unemployment down by 46,000 in the second quarter.
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