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Video Summary: Q&A on GDP Preliminary Estimate, Q4 2012

Released: 25 January 2013

Also in this release

GDP is one of the main indicators of economic growth. GDP was estimated to have decreased by 0.3% in the fourth quarter of 2012, driven by weakness in the production sector. 

  • GDP was estimated to have decreased by 0.3% in Q4 2012 compared with Q3 2012. 

  • Output of the production industries was estimated to have decreased by 1.8% in Q4 2012 compared with Q3 2012, following an increase of 0.7% between Q2 2012 and Q3 2012. 

  • Construction sector output was estimated to have increased by 0.3% in Q4 2012 compared with Q3 2012, following a decrease of 2.5% between Q2 2012 and Q3 2012. 

  • Output of the service industries was estimated to have been flat in Q4 2012 compared with Q3 2012, following an increase of 1.2% between Q2 2012 and Q3 2012. 

  • GDP was estimated to have been flat in Q4 2012, when compared with Q4 2011.

  • GDP is estimated to have been flat between 2011 and 2012. Users are, however, reminded that this figure is subject to revision in the second estimate of GDP when all quarters of 2012 are open for revision.

    A full transcript is available by emailing info@ons.gsi.gov.uk

Short video from the ONS giving a question and answer session on the Preliminary Estimate of Gross Domestic Product (GDP) for Q4 2012.

Source: Office for National Statistics

Background notes

  1. Details of the policy governing the release of new data are available by visiting www.statisticsauthority.gov.uk/assessment/code-of-practice/index.html or from the Media Relations Office email: media.relations@ons.gsi.gov.uk

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