Economic Indicators, April 2013

GDP contracted by an estimated 0.3% in Q4 2012 – GDP remains 3.0% below its pre-recession level in Q1 2008. Unemployment was 2.52 million and employment rose to 29.73 million over the quarter to January 2013. In the services industry, which accounts for three quarters of UK economic output, confidence has risen in each of the past three months, diminishing fears of a contraction in GDP in Q1 2013.