UK Q2 2017 GDP Preliminary Estimate +0.3%

worldtraveller

Main points

• UK gross domestic product (GDP) was estimated to have increased by 0.3% in Quarter 2 (Apr to June) 2017.

• The growth in Quarter 2 2017 was driven by services, which grew by 0.5% compared with 0.1% growth in Quarter 1 (Jan to Mar) 2017.

• The largest contributors to growth in services were retail trade, which improved after a fall in the first quarter, and film production and distribution.

• Construction and manufacturing were the largest downward pulls on quarterly GDP growth, following 2 consecutive quarters of growth.

• GDP per head was estimated to have increased by 0.1% during Quarter 2 2017.

ONS

mayonnaise

Excellent news.

The UK economy powers ahead.

Filo25

My 1.5% prediction of annual GDP growth for 2017 is starting to look positively optimistic.

A_Medium_Size_Jock

Personally I am amazed that growth continues even at such a small rate given the overwhelming volume of negativity being aimed at the UK from every angle.
From EU politico's to our own media, such premonitions of doom and gloom are enough to persuade all but the hardiest into hibernation until - at some time in the future - the sun again begins to shine and the shoots of new growth begin to sprout with a flourish.

There is obviously much uncertainty since none of us has a crystal ball able to predict the future with any degree of accuracy.
There will be times both good and bad ahead; when has it ever been any different?
But the outlook is not all so dire as some would have us believe.
Yesterday for example included news of the new electric Mini to be built in Oxford; Amazon announcing further new jobs and investment; Trump talking up a fast USA/UK trade deal; the city experiencing a jobs boom; UK factory production at a 20-year high and with it manufacturers' optimism about exports over the coming three months rose to the highest in 40 years; and more besides.
So it's not all bad news.

Even slow growth is preferable to no growth at all.

michaels

Hamish is right, no gdp geowth without population growth.

Rest of us are right, gdp per head matters to our personal wellbeing.

Thrugelmir

Flash figures are revised for years to come. A positive figure should be welcomed.

setmefree2

michaels wrote: »

Hamish is right, no gdp geowth without population growth.

Rest of us are right, gdp per head matters to our personal wellbeing.

Yup what matters GDP growth per head....what's the point in growth if we are all actually getting poorer?