Economy grows

Gross Domestic Product: Preliminary Estimate, Q1 2013; ONS

  • GDP increased by 0.3% in Q1 2013 compared with Q4 2012. GDP was 0.4% higher in Q1 2013 than in Q3 2011 and therefore has been broadly flat over the last 18 months.
  • Before the sharp fall in output in 2008 and 2009 the economy peaked in Q1 2008; the lowest level was in Q2 2009. GDP fell 6.3% peak to trough.
  • In Q1 2013 it was estimated that GDP was 2.6% below the peak in Q1 2008.
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