Gross domestic product increased by 0.3 per cent in the fourth quarter of 2009. This has been revised from a rise of 0.1 per cent in the preliminary estimate of GDP, owing to upward revisions to services and production. GDP is 3.3 per cent lower than the fourth quarter of 2008.
Output of the production industries rose by 0.4 per cent compared with a fall of 1.0 per cent in the previous quarter, with manufacturing output growing by 0.8 per cent compared with a fall of 0.3 per cent in the previous quarter.
Construction output fell by 1.0 per cent over the quarter.
Output in the service industries rose by 0.5 per cent in the fourth quarter, up from a fall of 0.3 per cent in the previous quarter. Growth was stronger for distribution, transport and business services.
Household expenditure increased by 0.4 per cent and is now 1.9 per cent lower than the fourth quarter of 2008.
Government final consumption expenditure rose by 1.2 per cent and is now 2.0 per cent higher than the fourth quarter of 2008.
Gross fixed capital formation fell by 3.1 per cent and is now 14.2 per cent lower than the fourth quarter of 2008.
Inventories continued to decline, down £2.8 billion on the quarter.
Can you say V-shaped recovery? (I know most journalists can’t!)
Surprised by the revision? Read this article on Monevator to hear why the UK is booming.
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