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GDP growth slowed in Q4 2014

GDP coins

THE rate of growth in the economy slowed in the last quarter of 2014 to 0.5%, the Office for National Statistics said today. Overall growth in 2014 was 2.6%.

The estimated figures for the last three months of 2014 showed a 0.2% decline from the previous quarter.

Overall growth in 2014 was 2.6% - the healthiest performance since 2007.

Joe Grice, chief economist at the ONS said growth while "respectable and solid" appeared to have been pegged back in Q4 by a slowdown in the construction and manufacturing sectors.

The service sector continued to lead the way, and grew 0.8% in the period. Since 2008 the service sector is up 7.9%, compared to falls of 7.9% in construction and 10.6% in production.

Source : Chris Barry - (North West)

27 January 2015

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