Bulletin

UK grows at fastest pace since crisis

Britain's economy grew at 2.6% in 2014. However, final quarter growth slowed to 0.5%, below expectations of 0.6%, serving to highlight an economy decelerating from 0.7% growth between July and September last year and 0.8% in the quarter before that. Government hopes of rebalancing the economy were also undermined by figures showing how the dominant services sector grew a further 0.8% last quarter, which contrasts with a mere 0.2% rise in manufacturing output, whilst industrial output fell 0.1% and construction was down 1.8%.

 

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