Britain�s 2015 economic growth upgraded

AFP, LONDON: Britain's economy last year grew slightly faster than thought after a better-than-expected final quarter, official data showed yesterday.
Gross domestic product -- the total value of all goods and services produced by a country -- expanded by 2.3 per cent in 2015, the Office for National Statistics said in its final estimate.
That was a shade higher than an estimate of 2.2 per cent given last month. However, it still marked a slowdown from 2.9-per cent expansion in 2014.
GDP grew by 0.6 per cent in the October-December period, or fourth quarter, upgraded from 0.5 per cent.
"GDP growth was a pleasant surprise," said Brenda Kelly, head analyst at traders London Capital Group.
It comes after the British government recently cut its economic growth outlook citing global markets turbulence rooted in China.
Britain's economy was forecast to grow by only 2.0 per cent this year, down from a November estimate of 2.4 per cent.
And gross domestic product growth was expected to stand at 2.2 per cent next year, down from an earlier predicted 2.5 per cent.

 

Britain�s 2015 economic growth upgraded

AFP, LONDON: Britains economy last year grew slightly faster than thought after a better-than-expected final quarter, official data showed yesterday. Gross domestic product -- the total value of all goods and services produced by a country -- expanded by 2.3 per cent in 2015, the Office for National Statistics said in its final estimate. That was a shade higher than an estimate of 2.2 per cent given last month. However, it still marked a slowdown from 2.9-per cent expansion in 2014. GDP grew by 0.6 per cent in the October-December period, or fourth quarter, upgraded from 0.5 per cent. GDP growth was a pleasant surprise, said Brenda Kelly, head analyst at traders London Capital Group. It comes after the British government recently cut its economic growth outlook citing global markets turbulence rooted in China. Britains economy was forecast to grow by only 2.0 per cent this year, down from a November estimate of 2.4 per cent. And gross domestic product growth was expected to stand at 2.2 per cent next year, down from an earlier predicted 2.5 per cent.