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Release: Second Estimate of GDP, Q2 2013

Released: 23 August 2013 Next edition: 26 September 2013

Contact

Matthew Hughes

National Accounts Co-ordination

gdp@ons.gsi.gov.uk

Telephone: +44 (0)1633 455827

Categories: Economy, National Accounts, National Income, Expenditure and Output, GDP by Category of Expenditure, GDP by Category of Income, GVA by Category of Output, Main Aggregates of National Accounts

Frequency of release: Quarterly

Language: English

Geographical coverage: UK

Geographical breakdown: UK

  • UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.7% between Q1 2013 and Q2 2013, revised up by 0.1 percentage points from the previously published estimate.

  • The upwards revision to GDP between the first and second estimate can be attributed to small upwards revisions across a number of the main industrial groupings. 

  • GDP in volume terms increased by 1.5% when comparing Q2 2013 with Q2 2012. 

  • In current prices GDP was estimated to have increased by 0.4% between Q1 2013 and Q2 2013. 

  • All expenditure components – with the exception of non-profit institutions serving households – contributed positively to the 0.7% increase in GDP between Q1 2013 and Q2 2013.  

  • Compensation of employees – which includes both wages & salaries and pension contributions – increased by 2.4% in Q2 2013, the highest quarterly increase since Q3 2000 when it also increased by 2.4%. The increase in Q2 2013 partly reflects unusually high bonus payments in April 2013. 

It contains estimates of the key components of GDP from the output, income and expenditure approaches.

These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

Content from the Office for National Statistics.
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