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    25.02.2016 10:25 Revised U.K. GDP grows at 0.5% in the fourth quarter

    The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Thursday. The revised U.K. GDP expanded at 0.5% in the fourth quarter, in line with the preliminary reading, after a 0.4% rise in the third quarter.

     

    The growth was driven by a rise in household spending. Household spending rose 0.7% in the fourth quarter.

     

    Exports declined 0.1% in the fourth quarter, while imports were up 1.2%.

     

    Business investment slid 2.1% in the fourth quarter.

     

    The service sector climbed 0.7% in the fourth quarter, in line with the preliminary reading.

     

    On a yearly basis, the revised U.K. GDP rose 1.9% in the fourth quarter, in line with the preliminary reading, after a 2.1% gain in the third quarter.

     

    In 2015 as whole, U.K. GDP rose 2.2%, in line with the preliminary reading, after a 2.9% growth in 2014.


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