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U.K. Economy Expands 0.9%
The U.K.'s gross domestic product expanded by 0.7% in the first quarter and 0.9% in the second quarter of 2014, according to revised figures from the Office for National Statistics.
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The U.K.'s gross domestic product expanded by 0.7% in the first quarter and 0.9% in the second quarter of 2014, according to revised figures from the Office for National Statistics.
The new data compare with earlier estimates of 0.8% for both periods. The revision reflects the ONS's shift to the new European System of Accounts 2010 from ESA 1995.
The accounting move leaves last year's growth in GDP unchanged at 1.7%. Also unchanged is year-on-year growth in GDP of 3.2% for the second quarter of 2014.
But the adjustment reduces the peak-to-trough drop in the 2008-2009 economic downturn to 6% from the previous estimate of 7.2%, according to the ONS.
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