Mortgage News
UK economic growth revised up to 0.4%
Britain’s emergence from an 18-month recession was stronger than first thought, according to revised ONS data.
Figures show UK GDP grew 0.4% in Q4 2009, more than the initial 0.3% estimate. That forecast itself was revised up from its first estimate of just 0.1% growth.
Year-on-year GDP has also been revised up to -3.1% for Q4 2009 from -3.3%.
The 0.4% growth between October and December last year compares with a figure of -0.3% for Q3 2009. The year-on-year figure for Q4 2009 compares with a contraction of -5.3% in the same period in 2008.
GDP is a measure of the total value of all goods and services produced by the UK.
It is considered as a broad measure of the UK economic activity and health, with a rising trend impacting positively on the value of the pound.
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