27 Jan 2015
UK Q4 2014 GDP disappointed expectations
FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) showed preliminary UK Q4 GDP rose 2.7% year-on-year, missing the market expectation of 2.8%, and up from the previous quarter’s 2.6%.
Quarter-on-quarter the preliminary UK Q4 GDP stood at 0.5% , compared to the expected print of 0.6%, and down from the previous quarter’s 0.7%. The Q4 also witnessed the biggest quarterly fall in construction since Q2 2012. Services witnessed a growth of 0.8%, while industry and construction contracted by 0.1% and 1.8% respectively.
However, UK GDP growth for 2014 as a whole was 2.6%, the best since 2007. In response to the weaker-than-expected data the ONS said, “it’s too early to say” if there is a general UK economic slowdown.
Quarter-on-quarter the preliminary UK Q4 GDP stood at 0.5% , compared to the expected print of 0.6%, and down from the previous quarter’s 0.7%. The Q4 also witnessed the biggest quarterly fall in construction since Q2 2012. Services witnessed a growth of 0.8%, while industry and construction contracted by 0.1% and 1.8% respectively.
However, UK GDP growth for 2014 as a whole was 2.6%, the best since 2007. In response to the weaker-than-expected data the ONS said, “it’s too early to say” if there is a general UK economic slowdown.