The Office of National Statistics (ONS) has released figures showing that UK GDP went up by 0.6 per cent in the last quarter of 2007.
The growth was slightly less than the 0.7 per cent recorded in the third quarter of 2007. The ONS said that a slight acceleration in production was offset by weaker growth in services.
For the year 2007 GDP increased 3.1 per cent compared to 2006.
The ONS reported an increase in total production output of 0.3 per cent in the fourth quarter, up from zero growth in the third quarter. The increase was attributed to stronger mining, quarrying and utilities.
Manufacturing growth was unchanged at zero per cent. Mining and quarrying grew by 1.1 per cent in the fourth quarter, whilst in the third quarter it dropped 1.1 per cent. Electricity, gas and water increased from 0.8 per cent growth in the third quarter to 1.7 per cent in the fourth.
The ONS said that total service output went up by 0.7 per cent in the fourth quarter, down from the 0.8 per cent growth of the third quarter. The slight slow down was attributed to weaker growth in business services and finance, which grew by only 0.5 per cent in the fourth quarter, down from 1.3 per cent growth in the third quarter.
The government figures said that there was increased growth in other service industry aggregates, with the biggest growth being in transport, storage and communication.
The distribution, hotels and restaurants sector rose by 1 per cent in the fourth quarter, down from 0.8 per cent growth in the third. Wholesaling made the biggest contribution to the acceleration of growth, although retailing growth decelerated.
Transport, storage and communication grew by 1.9 per cent, up from a third quarter rise of 0.5 per cent. Post and telecommunications made the largest contribution to the acceleration in growth to the sector.
Business services and finance increased by 0.4 per cent, representing a drop from the growth of 1.3 per cent in the third quarter. The deceleration was attributed mainly to weaker growth in computing services and financial intermediation, particularly stock exchange transactions. Other business services made the largest contribution to growth.
Government and other services went up by 0.5 per cent, a slight improvement on growth of 0.3 per cent in the third quarter.
Construction grew by 0.7 per cent, down from a rise of 0.8 per cent in the previous quarter. Agriculture rose by 1.3 per cent, an improvement on growth of only 0.6 per cent in the third quarter.