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British economy grows faster than expected in 2015: ONS

Xinhua, April 1, 2016 Adjust font size:

British economy (GDP) grew 2.3 percent in 2015, up from 2.2 percent as expected previously, the Office for National Statistics (ONS) published on Thursday.

The GDP increased by 0.6 percent in the fourth quarter of 2015, also higher than the previous estimate of 0.5 percent, according to the ONS. This is the 12th consecutive quarter of positive growth since the first quarter of 2013.

The year-on-year economic growth in the fourth quarter of 2015 increased by 2.1 percent, revised up 0.2 percentage point from the previously published estimate.

Three of the four main output industrial groupings within GDP showed quarter-on-quarter increases in the fourth quarter of 2015, with only production falling in this period.

Production output decreased by 0.4 percent in the fourth quarter of 2015 when compared with the third quarter of 2015, revised up 0.1 percentage point from the previously published estimate. The year-on-year output increased by 0.8 percent, revised up 0.2 percentage point from the previously published estimate.

Construction output increased by 0.3 percent in the fourth quarter of 2015, revised up 0.7 percentage point from the previously published estimate. The year-on-year increase of the sector output was 1.0 percent, revised up 0.6 percentage point from the previously published estimate. Endit