TELETRADER News
3/31, 8:01 AM
(Source: TeleTrader)
UK's GDP expands by 0.1% in Q4
The United Kingdom's gross domestic product (GDP) observed a quarterly rise of just 0.1% in the fourth trimester of the fiscal year 2022, which still surpassed expectations, the Office for National Statistics revealed in its report published on Friday.
On an annual level, the figure advanced by 0.6%, more than analysts predicted. It also went up by 0.6% compared to the fourth quarter of the fiscal year 2019, before the beginning of the COVID-19 pandemic.
In output terms, the services sector noted an expansion of 0.1% on a quarterly basis. The construction sector grew by 1.3%. Meanwhile, the production sector stood flat. The household saving ratio increased to 9.3% compared to 8.9% registered in the third quarter.