UK gross domestic product fell by 0.2% in volume terms in the fourth quarter of 2011 according to a statistical bulletin from the ONS.
Of the output components of GDP output in the production industries fell by 1.4% within which manufacturing fell by 0.8%. Services remained unchanged but the construction sector fell by 0.5%. Agricultural output decreased by 1.5% in Q4 compared with a decrease of 0.6% in Q3 2011. Output of business services and finance increased by 0.1%. Government and other increased by 0.3%.
Household expenditure increased by 0.5% quarter on quarter while gross capital formation fell by 7.6%. The income components of growth and contributions to growth show that employee compensation fell by 0.3%.
Showing posts with label household expenditure. Show all posts
Showing posts with label household expenditure. Show all posts
Friday, 24 February 2012
Friday, 25 November 2011
GDP Grows By 0.5% In Q3
The second estimate of GDP for the third quarter of 2011 was published by the ONS recently. The headline figure for GDP in Q3 2011 increased by 0.5%.
Analyzed by output, the production industries rose by 0.4% compared with a fall of 1.2% in Q2, mining and quarrying increased by 0.4% and manufacturing output rose by 0.2%. According to the income analysis GDP at current market prices rose by 1.5% and compensation of employees increased by 1.2%. The expenditure analysis suggests that GDP increased by 0.9% in Q3. Household final consumption expenditure remained unchanged. The level of household expenditure is 1.5% lower than Q3 2010.
Analyzed by output, the production industries rose by 0.4% compared with a fall of 1.2% in Q2, mining and quarrying increased by 0.4% and manufacturing output rose by 0.2%. According to the income analysis GDP at current market prices rose by 1.5% and compensation of employees increased by 1.2%. The expenditure analysis suggests that GDP increased by 0.9% in Q3. Household final consumption expenditure remained unchanged. The level of household expenditure is 1.5% lower than Q3 2010.
Friday, 9 September 2011
GDP In Europe Increased By 0.2% In Q2 2011
There was an increase of 0.2% in GDP in both the euro area and the EU27 in the second quarter of 2011 compared with the first quarter according to a statistical news release from Eurostat the statistical office of the European Union. Growth rates in the first quarter were 1.8% in the euro area and 0.7% in the EU27. On a yearly basis, the second quarter results increased by 1.6% in the euro area and 1.7% in the EU27.
Household expenditure decreased by 0.2% after growing by 0.2% in the previous quarter and decreased by 0.1% in the EU27. Gross fixed capital formation, exports and imports all grew during the second quarter.
Household expenditure decreased by 0.2% after growing by 0.2% in the previous quarter and decreased by 0.1% in the EU27. Gross fixed capital formation, exports and imports all grew during the second quarter.
Friday, 25 February 2011
GDP Down More Than Expected
GDP in terms of volume decreased by 0.6% in Q4 2010 which is a downward revision of the decrease of 0.5% published in January. Production industries increased by 0.7% but services decreased by 0.7% and construction decreased by 2.5%. The GDP deflator is 2.8% above the sdame quarter of 2009. Household expenditure was down 0.1% in real terms and gross fixed capital formation down by 2.5%. The very bad weather is partly to blame for the change in GDP.
Wednesday, 1 September 2010
GDP Revised Up To 1.2%
UK GDP measures of output, income and expenditure increased by 1.2% on the previous quarter, revised up from the 1.1% preliminary estimate. The production industries were up by 1% and manufacturing 1.6%, services output increased by 1.7% and construction by 8.5%. Household expenditure increased by 0.7%, non-profit institutions by 1.4% but gross capital formation fell by 2.4%. GDP at current market prices increased by 1.7%. The GDP implied deflator is 4.1% for Q2 2010.
Tuesday, 19 January 2010
Average Household Spend In 2008
The average weekly household spend on commodities and services in UK households in 2008 was £471 compared to £459 in 2007. The analysis is carried out according to an internationally agreed classification system called the Classification of Individual Consumption by Purpose (COICOP).
In 2008 the highest category spend was on transport at £63/week of which purchase accounted for £21.10, £31.80 on the operation of personal transport and £10.50 was spent on transport services (public transport). The second highest category was recreation and culture at £60/week which includes TVs, computers, newspapers, books, leisure activities and package holidays. The third highest category was housing, fuel and power at £53/week.
Food and non-alcoholic drinks accounted for £51/week of household expenditure of which £13.10 went on meat and fish, £3.70 on fresh vegetables, £3 fresh fruit, and £2.10 on chocolate. Consumption patterns varied according to age. The most was spent where the reference person was aged 30-49. The average spend for that group was £582/week. The lowest average weekly spend was the over 75 age group with £217/week.
In 2008 the highest category spend was on transport at £63/week of which purchase accounted for £21.10, £31.80 on the operation of personal transport and £10.50 was spent on transport services (public transport). The second highest category was recreation and culture at £60/week which includes TVs, computers, newspapers, books, leisure activities and package holidays. The third highest category was housing, fuel and power at £53/week.
Food and non-alcoholic drinks accounted for £51/week of household expenditure of which £13.10 went on meat and fish, £3.70 on fresh vegetables, £3 fresh fruit, and £2.10 on chocolate. Consumption patterns varied according to age. The most was spent where the reference person was aged 30-49. The average spend for that group was £582/week. The lowest average weekly spend was the over 75 age group with £217/week.
Tuesday, 1 September 2009
GDP Decline Revised Upwards
GDP fell by 0.7%, revised from 0.8%, in the second quarter of 2009 compared with the previous quarter. GDP is 5.5% lower than Q2 2008. It is the biggest four quarter fall on record accoring to the ONS. Nominal GDP showed no growth for the quarter. The GDP deflator rose by 1.3% compared with Q2 2008.
The slowdown in output from Q1 to Q2 is due to the services, production and construction sectors. Services fell by 0.6%, production by 0.6% and construction by 2.2%.
Household expenditure fell by 0.7%. An increase in spending on motor vehicles, food and drink was offset by the continued edcline of spending abroad. Government expenditure rose by 0.8%. The volume of spending is 2.5% higher than Q2 2008. The net trade deficit fell to £7.3bn as imports fell faster than exports at 3.7% and 2.6% respectively. The export of services fell by 2.6% and the import of services by 1.9%. Gross fixed capital formation fell by 4.5%.
Employee compensation increased by 1% in the quarter, but still 1.2% below the same quarter last year. The gross operating surplus of corporations decreased by 3.6% following a 4.5% fall in Q1 2009. Taxes less subsidies increased by 3.6%. There was no change in the growth of nominal GDP at market prices.
The slowdown in output from Q1 to Q2 is due to the services, production and construction sectors. Services fell by 0.6%, production by 0.6% and construction by 2.2%.
Household expenditure fell by 0.7%. An increase in spending on motor vehicles, food and drink was offset by the continued edcline of spending abroad. Government expenditure rose by 0.8%. The volume of spending is 2.5% higher than Q2 2008. The net trade deficit fell to £7.3bn as imports fell faster than exports at 3.7% and 2.6% respectively. The export of services fell by 2.6% and the import of services by 1.9%. Gross fixed capital formation fell by 4.5%.
Employee compensation increased by 1% in the quarter, but still 1.2% below the same quarter last year. The gross operating surplus of corporations decreased by 3.6% following a 4.5% fall in Q1 2009. Taxes less subsidies increased by 3.6%. There was no change in the growth of nominal GDP at market prices.
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