Translate

Wednesday, February 25, 2009

UK economy contracts 1.5% in Q4

UK's GDP growth fell by 1.5% in the fourth quarter of last year versus 0.7% in the third quarter, the Office for National Statistics reported today. The quarterly decline was the largest since 1980.

That matched the agency's initial estimate of fourth-quarter GDP performance. Economists had expected GDP to be revised down slightly to a 1.6% quarterly decline.

On an annual basis the British economy shrunk by 1.9% as against a growth rate of 2.6% in the same quarter last year. The Office for National Statistics had estimated a drop of 1.8% in the fourth quarter over the year ago period. The annual figure was in line with expectations.

The Office for National Statistics also downwardly revised third quarter GDP to show a 0.7% quarterly fall, compared to a previous estimate of 0.6%.

No comments:

Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
18:25 Redbook Index (YoY) 1 4.7% 4.9%
21:00 52-Week Bill Auction 1 3.94% 3.93%
22:30 3-Year Note Auction 1 3.972% 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 -0.37M 0.70M -3.30M
04:15 Visitor Arrivals (YoY) 1 18.8% -8.4%
15:00 10-y Bond Auction 1 4.673%
16:30 MBA Mortgage Applications 1 -3.9%
18:00 Consumer Price Index ex Food & Energy (MoM) 3 0.3% 0.2%
18:00 Consumer Price Index (YoY) 3 2.5% 2.3%
18:00 Building Permits (MoM) 1 2.2% -4.1%
Economic Calendar >> Add to your site

Best Mutual Funds

Recent Posts

Search This Blog

IPO's Calendar

Market Screener

NSE BSE Tiker

Custom Pivot Calculator

Popular Posts

Market & MF Screener