Preliminary, second and final estimates of GDP released over a quarter as more data becomes available. The final estimate is published in the Quarterly National Accounts. GDP is the main measure of UK economic growth based on the value of goods and services produced during a given period.
UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.4% between Quarter 3 (July to Sept) and Quarter 4 (Oct to Dec) 2017; this is a 0.1 percentage points revision down from the preliminary estimate of GDP, in part reflecting a small downward revision to the estimated output of the production industries.
Growth in the latest quarter was driven by business services and finance within the services sector, there was, though, a small downward revision to services since the preliminary estimate of GDP, but this does not impact on services quarterly growth to one decimal place.
Business investment growth was flat between Quarter 3 (July to Sept) and Quarter 4 (Oct to Dec) 2017, but when compared with the same quarter a year ago business investment grew by 2.1%.
Records and describes economic activity in the UK and as such is used by government, banks, academics and industries to formulate the economic and social policies and monitor the economic progress of the UK.
Paddington 2 is at the top of UK box office charts and Star Wars: The Last Jedi has just hit cinema screens. With two UK-made movies set to dominate the cinemas over Christmas, how much is the industry worth to the UK economy?