UK Q4 GDP up 0.7%

UK Q4 GDP up 0.7%

The UK's GDP (Gross Domestic Product) grew 0.7% in the final quarter of 2004 compared to the previous quarter, the UK's National Statistics Office said today. The 0.9% rise in the service sector affected the quarterly increase. Production industries declined 0.1% in the final quarter, and a rise of 0.2% in manufacturing output was offset by a fall of 2.8% in the energy sector. Due to the slowdown in growth of durable goods expenditures, household expenditures rose 0.4% in the fourth quarter, following a 0.6% rise in the third quarter.