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26/01/2010
UK Emerges From Recession
The British economy has officially moved out of recession.
Growth during the last three months of 2009 was recorded at 0.1%, a much smaller than predicted trajectory.
The economy had shrunk for six continuous quarters, the deepest dip in over 50 years.
Last week a further sign of confidence emerged, when it was revealed jobless figures had dropped for the first time in 18 months.
Britain is one of the last European countries to step out of recession.
Europe's two biggest economies - Germany and France - came out of recession last summer.
Japan and the US also exited recession last year.
Today, the Office of National Statistics confirmed UK Gross Domestic Product (GDP) had increased 0.1% in the fourth quarter of 2009, compared with a decrease of 0.2% in the third quarter.
The rise in output was due to growths in services and production, the report said.
Services output rose 0.1%, compared with a fall of 0.2% in the previous quarter.
Distribution, hotels and restaurants contributed most to the increase, rising 0.4%, compared with an increase of 0.7% in the previous quarter.
Motor trades and retail contributed most to the increase. Transport, storage and communication showed zero growth, compared with an increase of 0.7% in the third quarter.
Total production output rose in the fourth quarter, increasing 0.1%, compared with a fall of 0.9% in the previous quarter.
Manufacturing made the largest contribution to the increase rising 0.4%, compared with a fall of 0.2% in the previous quarter.
Mining and quarrying output rose 1.0%, compared with a decrease of 5.7% in the previous quarter. Electricity, gas and water supply fell 3.3%, compared with an increase of 0.2 in the previous quarter.
Construction output showed zero growth in the fourth quarter, compared with an increase of 1.9% in the previous quarter.
Agriculture, forestry and fishing output decreased 0.6%, compared with a fall of 2.8% in the previous quarter.
Total GDP fell by a record 4.8% in 2009.
(PR/BMcC)
Growth during the last three months of 2009 was recorded at 0.1%, a much smaller than predicted trajectory.
The economy had shrunk for six continuous quarters, the deepest dip in over 50 years.
Last week a further sign of confidence emerged, when it was revealed jobless figures had dropped for the first time in 18 months.
Britain is one of the last European countries to step out of recession.
Europe's two biggest economies - Germany and France - came out of recession last summer.
Japan and the US also exited recession last year.
Today, the Office of National Statistics confirmed UK Gross Domestic Product (GDP) had increased 0.1% in the fourth quarter of 2009, compared with a decrease of 0.2% in the third quarter.
The rise in output was due to growths in services and production, the report said.
Services output rose 0.1%, compared with a fall of 0.2% in the previous quarter.
Distribution, hotels and restaurants contributed most to the increase, rising 0.4%, compared with an increase of 0.7% in the previous quarter.
Motor trades and retail contributed most to the increase. Transport, storage and communication showed zero growth, compared with an increase of 0.7% in the third quarter.
Total production output rose in the fourth quarter, increasing 0.1%, compared with a fall of 0.9% in the previous quarter.
Manufacturing made the largest contribution to the increase rising 0.4%, compared with a fall of 0.2% in the previous quarter.
Mining and quarrying output rose 1.0%, compared with a decrease of 5.7% in the previous quarter. Electricity, gas and water supply fell 3.3%, compared with an increase of 0.2 in the previous quarter.
Construction output showed zero growth in the fourth quarter, compared with an increase of 1.9% in the previous quarter.
Agriculture, forestry and fishing output decreased 0.6%, compared with a fall of 2.8% in the previous quarter.
Total GDP fell by a record 4.8% in 2009.
(PR/BMcC)
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17 April 2003
Regional imports suffer £1bn slump
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Regional imports suffer £1bn slump
Government figures released today have revealed that the value of regional imports has slumped by around £1 billion over the past quarter. According the Customs and Excise report, estimates for the fourth quarter 2002 saw regional imports dip £1 billion, or 2%, on the third quarter's figures to £51.4 billion.
27 March 2013
UK Economy Continues To Shrink
The economy continues to shrink, with UK GDP having decreased by 0.3% in the final quarter of 2012, according to a new report published by the Office for National Statistics (ONS). The report says the main contributors to the decrease were gross fixed capital formation, which fell by 0.
UK Economy Continues To Shrink
The economy continues to shrink, with UK GDP having decreased by 0.3% in the final quarter of 2012, according to a new report published by the Office for National Statistics (ONS). The report says the main contributors to the decrease were gross fixed capital formation, which fell by 0.
28 August 2009
Economy 'Contraction' Slowing
The rate at which the UK economy is contracting has been reduced. In the three months from April to June the Office for National Statistics (ONS) said gross domestic product (GDP) dropped by 0.7% from 0.8% compared with the previous quarter. Year-on-year decline has been reduced to 5.5% from 5.6%.
Economy 'Contraction' Slowing
The rate at which the UK economy is contracting has been reduced. In the three months from April to June the Office for National Statistics (ONS) said gross domestic product (GDP) dropped by 0.7% from 0.8% compared with the previous quarter. Year-on-year decline has been reduced to 5.5% from 5.6%.
15 May 2009
75,000 Repossessions This Year 'Now Looks Pessimistic'
There were 12,800 repossessions by first-charge mortgage lenders in the first quarter of this year, according to the Council of Mortgage Lenders (CML). This compares with 10,400 in the fourth quarter of last year, and 8,500 in the first quarter of 2008.
75,000 Repossessions This Year 'Now Looks Pessimistic'
There were 12,800 repossessions by first-charge mortgage lenders in the first quarter of this year, according to the Council of Mortgage Lenders (CML). This compares with 10,400 in the fourth quarter of last year, and 8,500 in the first quarter of 2008.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
