UK GDP grew 0.5% in the fourth quarter

FXStreet (Mumbai) - The data released by the Office for National Statistics in the UK showed, the economy grew 0.5% quarter-on-quarter in Q4 matching the initial estimate. Year-on-year the economy grew 2.7%, in line with the initial estimate.

Exports increased 3.5%, bettering the estimate of a 1.1 % growth year-on-year, while the imports rose 1.3%, compared to the estimate of 1.5%. Private consumption grew 0.5%, missing the estimate of 0.8%. The total business investment declined 1.4% quarter-on-quarter, against the expected rise of 1.9%. The business investment had declined 1.2% in Q3.