FXstreet.com (Barcelona) - British gross domestic product has increased 0.6% in the last quarter of 2007, according to previous estimates, and 2.8% from the same period last year, estimates revised from 2.9% posted previously, 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 0.2%, while output of mining and quarrying fell 0.1%.
Services output has risen 0.7% from October to December, down from the 0.9% increase posted in the previous quarter. The distribution, hotels and catering output rose by 0.2%, transport storage and communication output rose by 1.7 per cent, business services and finance output rose by 0.6%, government and other services output rose by 0.7%
DEficit in net trade fell to 11.6B pounds in 4Q, exports of goods fell 0,9% and imports goods fell 0,6%. While exports services rose 0,2% in 4Q, and service imports fell 2.3%.
On the year, GDP has increased 2.8 in 4Q%, and for the 2007 year as a whole, GDP rose 3.0%, above the 2.9% increase posted in 2006.