Blog
UK Macro: Developments in UK Economy - GDP Data
Geoff Riley
3rd November 2012
We are pleased to partner with the Office of National Statistics who have provided us with this PowerPoint presentation on the revised second quarter data for UK GDP and some of the key constituent parts. This downloadable resource might make for an interesting AS macro lesson on different stages of the economic cycle and some of the issues regarding the strength or weakness of components of aggregate demand.
Key stats for Q2 2012
- GDP growth
for Q2 revised up to -0.4% from -0.5% (Note “GDP growth for Q2” means how GDP
changed between Q1 and Q2 of 2012)
- Production -0.7%, Construction -3.0%, Services
-0.1%
- GDP growth for 2011 = 0.9%
- Household final consumption expenditure -0.2%
- Household saving ratio 6.7% in 2012 Q2
- Real household disposable income growth +1.9% in
2012 Q2
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.