British economy grows by 0.6% in 3 months, 3% in a year

LONDON: The Office for National Statistics just released its final estimate of UK GDP for the fourth quarter.

The top line is that growth was a little faster than expected: 0.6% in the final three months of the year, and 3% over the year as a whole.

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Analysts had expected 0.5% in the final three months and 2.7% for the year overall. Overall GDP rose by 0.6% from the third quarter to the fourth.

And it’s up 3% in comparison to the fourth quarter in 2013.

Business investment increased by 3.7% after a big miss on expectations in the third quarter.

The “index of services” effectively the output of Britain’s dominant services sector, rose by 0.8% quarter on quarter

Here’s how the last several years look for the British economy: