Join        Login             Stock Quote

Britain's GDP down in fourth quarter

Friday, January 25, 2013 11:46 AM

LONDON, Jan. 25 (UPI) -- Britain's Office of National Statistics said the country's economy shrank by 0.3 percent in the fourth quarter of 2012 compared to the third.

In a preliminary estimate, the NOS said the output of production industries fell 1.8 percent in the final quarter of the year compared to the July through September period.

The industrial output drop follows a 0.7 percent increase in the previous quarter-to-quarter report.

ONS said the construction sector came out of a slump, albeit just barely. The construction sector gained 0.3 percent in the fourth quarter after contracting by 2.5 percent in the third quarter and shrinking 3 percent in the second quarter.

Overall, the gross domestic product for Britain was estimated to be flat from 2011 to 2012 -- no expansion and no contraction over the course of the year, ONS said.

"Users are, however, reminded that this figure is subject to revision in the second estimate of GDP when all quarters of 2012 are open for revision," the national data office said.

(Source: UPI )
(Source: Quotemedia)


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.