UK Confirms GDP Grew at 0.7 Percent in 2013 Q4

Increased business investment helped to lift growth in the final three months of 2013, official figures have shown.

The Office for National Statistics (ONS) confirmed that the economy grew by 0.7% in the quarter, unchanged from its previous estimate.

However, its estimate for growth in 2013 as a whole was cut to 1.8% from the initial reading of 1.9%.

The ONS said business investment in the fourth quarter rose 2.4% from the previous three-month period.

Business investment was also up 8.5% from a year earlier.

Other factors helping growth in the final quarter of 2013 included a 0.4% rise in household spending and a similar contribution from net trade, as the balance between imports and exports improved.

Recent business surveys have suggested that the recent upturn in the UK economy has continued into 2014.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza