FXstreet.com (Barcelona) - British gross domestic product has increased 0.6% in the last quarter of 2007 and 2.9% from the same period last year, figures unchanged from the previous estimation, according to the revision of the first GDP estimation released by National Statistics.
On the quarter, GDP growth would have slowed down slightly compared to the 0.7% growth posted in the third quarter, due to a weaker growth of the services output. Output of the production industries increased 0.1%, while utilities output rose 1.7% and output of mining and quarrying rose 0.3%.
Services output has risen 0.6% from October to December, down from the 0.9% increase posted in the previous quarter, while output of business services and finance industry increased 0.5%. Construction output rose 0.7% and household consumption increased a mere 0.2% in the last quarter of 2007, down from the 0.9% increase posted in the previous quarter, but 2,7% above the last quarter of 2006.
On the year, GDP has increased 2.9%, and for the 2007 year as a whole, GDP rose 3.1%, above the 2.9% increase posted in 2006.