Economic Indicators, January 2012

The ONS revised up GDP growth in for Q3 2011 from 0.5% to 0.6%, although this stemmed from a downward revision to growth in the previous quarter from 0.1% to 0.0%. Despite Q3 figure being the largest quarterly increase in economic output in a year, the ONS said that growth was concentrated in a few areas of the economy and was not broad-based. Available indicators for Q4 2011 point toward a slowdown in GDP growth, with manufacturing output contracting and service sector growth slowing.