UK economy moves out of recession
Monday February 1st 2010
The chained volume measure of gross domestic product (GDP) increased 0.1 per cent in the fourth quarter of 2009 reveal the latest figures from the Office of National Statistics.
The increase in output was due mainly to increases in distribution, hotels and restaurants and government and other services. Output of the service industries increased 0.1 per cent. Output in the production industries increased 0.1 per cent. GDP decreased 3.2 per cent between 2009 Q4 and 2008 Q4 .
Contributions to GDP Growth
Distribution, hotels and restaurants was the largest contributor to the positive growth this quarter. Government and other services and total production also had significant contributions to the increase. This was partially offset by a small decrease in business services and finance. Construction and transport, storage and communication were flat over the quarter
Index of Production
The production industries increased 0.1 per cent compared with a decrease of 0.9 per cent in the previous quarter. Manufacturing increased 0.4 per cent. Mining and quarrying increased 1.0 per cent and Electricity, gas and water supply decreased 3.3 per cent. The production industries decreased 6.3 per cent between 2009 Q4 and 2008 Q4 .
Construction
Construction growth was flat compared with an increase of 1.9 per cent in the previous quarter. Construction decreased 4.9 per cent between 2009 Q4 and 2008 Q4 .
Distribution, hotels and restaurants
Distribution, hotels and restaurants increased 0.4 per cent compared with an increase of 0.7 per cent in the previous quarter. Motor trades and retail made the largest contribution to the increase. Distribution, hotels and restaurants decreased 0.5 per cent between 2009 Q4 and 2008 Q4 .
Transport, storage and communication
Transport, storage and communication growth was flat compared with an increase of 0.7 per cent in the previous quarter. The most significant positive contribution was from post and telecommunications. This was offset by a significant negative contribution from transport support. Transport, storage and communication decreased 4.1 per cent between 2009 Q4 and 2008 Q4 .
Business services and finance
Business services and finance growth was flat compared with a decrease of 0.8 per cent in the previous quarter. The most significant positive contribution was from real estate. This was offset by a significant negative contribution from banking. Business services and finance decreased 4.8 per cent between 2009 Q4 and 2008 Q4.
Government and other services
Government and other services increased 0.2 per cent, compared with a decrease of 0.2 in the previous quarter. Health made the largest contribution to the increase. Government and other services decreased 0.7 per cent between 2009 Q4 and 2008 Q4 .