UK GDP growth at 0.5% in Q1

Friday, 28. June 2019 10:31

The United Kingdom's gross domestic product (GDP) rose by 0.5% in the first quarter of 2019 compared to the previous three-month period, according to the final estimate released by the country's Office for National Statistics on Friday. On an annual basis, the GDP growth amounted to 1.8%, accelerating from an annual rate of 1.4% recorded in the quarter from October to December 2018.

The economic growth was led primarily by the services sector, while production also provided a significant contribution mostly due to a 1.9% growth in manufacturing output. Household expenditure, government consumption and investment also contributed positively to the GDP growth, while net trade provided a negative contribution.

Related Links: 
Breaking the News / FH