Post by bot on Sept 26, 2013 19:30:08 GMT -5
U.K. final GDP data show 0.7% growth in Q2
LONDON (MarketWatch) -- The U.K. economy expanded by 0.7% in the second quarter of 2013, data from the Office for National Statistics showed on Thursday, unchanged from the previous estimate on growth, released on Aug. 23. GDP for the first quarter 2013 was revised to a rise of 0.4% quarter-on-quarter, from the previous estimate of a 0.3% increase "In an increasingly broad-based and sustainable-looking upturn, both manufacturing and construction saw faster than previously thought growth, accompanying strong growth in services. Meanwhile, the euro zone, our main trading partner, is recovering from recession, which should help boost exports and likewise adds to the sustainability of the upturn," said Chris Williamson, chief economist at Markit, in a note. "Economic growth for 2013 could therefore come in at 1.7%, above the current consensus of 1.4% and well above the Office for Budget Responsibility's estimate of just 0.6%, published back in March," he added.
LONDON (MarketWatch) -- The U.K. economy expanded by 0.7% in the second quarter of 2013, data from the Office for National Statistics showed on Thursday, unchanged from the previous estimate on growth, released on Aug. 23. GDP for the first quarter 2013 was revised to a rise of 0.4% quarter-on-quarter, from the previous estimate of a 0.3% increase "In an increasingly broad-based and sustainable-looking upturn, both manufacturing and construction saw faster than previously thought growth, accompanying strong growth in services. Meanwhile, the euro zone, our main trading partner, is recovering from recession, which should help boost exports and likewise adds to the sustainability of the upturn," said Chris Williamson, chief economist at Markit, in a note. "Economic growth for 2013 could therefore come in at 1.7%, above the current consensus of 1.4% and well above the Office for Budget Responsibility's estimate of just 0.6%, published back in March," he added.
