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04/12/2013
UK Economy Grew In Q3
The UK economy grew by 0.8% in the third quarter of 2013, according to the Office for National Statistics.
GDP has now risen by 1.8% during the latest three quarters, indicating conditions similar to the expansion between Q3 2009 and Q2 2010 as the UK began to recover from the economic downturn.
Unemployment fell for the sixth successive quarter in the three months to September.
But despite recent gains in GDP, inflation and the labour market, a comparison with 2009-10 showed that Real Household Disposable Income per capita remains at the same level first achieved in 2005, reflecting falls in real hourly wage.
Household expenditure in the fourth quarter of each year since 1997 has been on average 6.7% higher than quarterly spend in the rest of the year.
This spike in Christmas time spending has been most marked on optical equipment, other clothing and clothing accessories, and games, according to the report.
(IT/CD)
GDP has now risen by 1.8% during the latest three quarters, indicating conditions similar to the expansion between Q3 2009 and Q2 2010 as the UK began to recover from the economic downturn.
Unemployment fell for the sixth successive quarter in the three months to September.
But despite recent gains in GDP, inflation and the labour market, a comparison with 2009-10 showed that Real Household Disposable Income per capita remains at the same level first achieved in 2005, reflecting falls in real hourly wage.
Household expenditure in the fourth quarter of each year since 1997 has been on average 6.7% higher than quarterly spend in the rest of the year.
This spike in Christmas time spending has been most marked on optical equipment, other clothing and clothing accessories, and games, according to the report.
(IT/CD)
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