UK economy — 0.5% growth confirmed


The latest estimate for growth in the UK economy, as measured by gross domestic product (GDP), was unchanged at 0.5% for the third quarter


The service sector — with an unchanged estimate of 0.8% growth between the second and third quarter — was the only one of the the four main output industrial groupings within GDP to post an increase. And all four of the components within the services industries showed an increase between second and third quarter. 


Meanwhile, agriculture, forestry and fishing, construction, and production showed decreases in this period. Within production, three of the four components decreased, which resulted in overall negative growth in total production. 


Production output decreased by 0.5% in third quarter compared with the second quarter of the year, 2016, a revision downwards of 0.1 percentage points from the previously published estimate. Within the production sub-industries, output from mining and quarrying (including oil and gas extraction) increased by 4.3%; manufacturing (the largest component of production) decreased by 0.9% and electricity, gas, steam and air conditioning supply industries decreased by 4.3%. Water supply and sewerage decreased by 0.5%.


www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/secondestimateofgdp/quarter3julytosept2016