UK economy flat

The UK economy ended last year on a flat note, official data shows.

UK gross domestic product (GDP) in volume terms was flat in the final quarter of 2019, unrevised from the first quarterly estimate.

When compared with the same quarter a year ago, UK GDP increased by 1.1%, again unrevised from the first quarterly estimate.

Services output increased by 0.2% in the fourth quarter, compared to the previous quarter. However, production output fell by 0.7%, driven by declines in manufacturing, , where car output was down substantially, and in mining and quarrying.

The Office for National Statistics said the path of UK GDP growth had been particularly volatile throughout 2019, in part reflecting changes in the timing of activity related to the UK’s original planned exit dates from the EU.

The UK economy increased by 1.4% in 2019, after having grown 1.3% in 2018. Growth rates in 2018 and 2019 have been the slowest since the financial crisis of 2008 and 2009.

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/quarterlynationalaccounts/octobertodecember2019