UK GDP up 0.7% in Q4

UK GDP up 0.7% in Q4

The UK National Statistics Office disclosed that the country's GDP (Gross Domestic Product) grew 0.7% in the final quarter of 2004, thanks in part to a 0.9% rise in the service sector. The country's GDP had grown 0.6% growth in the previous quarter. Growth in the production industries dropped 0.1% in the fourth quarter, as a rise of 0.3% in manufacturing output was offset by a fall of 2.8% in energy sector. Construction output rose 1.2% in the final quarter of 2004. Due to a slowdown in expenditures on durable goods, household expenditures rose only 0.2% in the fourth quarter, following 0.7% growth in the third quarter.