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23/08/2013
GDP Increases By 0.7%
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, according to the Office for National Statistics (ONS).
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.
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.
(CD/IT)
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.
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.
(CD/IT)
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The Bank of England has said it will maintain its interest rate at 0.5%. It also gave no indication as to when it might increase the rate. In August 2013, governor Mark Carney said the unemployment rate would need to fall to 7% before an increase in interest rates would be considered.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
