Growth

Quarterly National Accounts, Q3 2013

  • UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.8% between Q2 2013 and Q3 2013, unrevised from the Second Estimate of GDP published 27 November 2013.
  • GDP in volume terms increased by 1.9% when comparing Q3 2013 with Q3 2012, revised up 0.4 percentage points from the previously estimated 1.5% increase.
  • Later data for expenditure, in particular household final consumption expenditure, has led to upward revisions for GDP since Q1 2012. As a result, between 2011 and 2012, GDP in volume terms rose by 0.3%, an upwards revision of 0.2 percentage points from the previously published 0.1% increase.
  • GDP in current prices was estimated to have increased by 1.4% between Q2 2013 and Q3 2013, revised down 0.3 percentage points from the estimate published 27 November 2013.
  • In Q3 2013 GDP in volume terms was estimated to be 2.0% below the peak in Q1 2008, as compared with 2.5% below this peak as previously estimated. From peak to trough in 2009, the economy shrank by 7.2%.

In this release

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