Fall in manufacturing GDP not as great as feared

Manufacturing News, Source : TheManufacturer.com
Published : 26 Aug 2005 18:13

UK gross domestic product (GDP) rose by 0.5 per cent in the second quarter of 2005. And although the manufacturing industries segment suffered a 0.3 per cent fall, it was not as severe as earlier estimates had suggested.

According to official figures published today, the level of GDP is now 1.8 per cent higher than the same quarter of 2004. The volume of output in the production industries was unchanged; within which manufacturing fell by 0.3 per cent. Output of the service industries increased by 0.6 per cent and construction growth is estimated to be 0.4 per cent. Household expenditure rose by 0.2 per cent.

GDP growth for quarter two 2005 has been revised up to 0.5 per cent from 0.4 per cent published last month. This reflects higher estimates of manufacturing output as survey data for June came in higher than forecast. Manufacturing output for the second quarter is now estimated to have fallen by 0.3 per cent compared to 0.7 per cent published last month.

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