Economic Indicators, October 2013

This Research Paper series summarises the main economic indicators currently available for the UK, along with comparisons with other major OECD countries.

• GDP grew by 0.7% in Q2 2013, following growth of 0.4% in Q1. Output increased in each of the manufacturing, construction and service sectors.

• Employment was 29.84 million in May-July 2013, up 80,000 on the previous quarter, while unemployment fell by 24,000 to 2.49 million.

• Retail sales, an indicator of household consumption, increased in value by 4.0% in June-August 2013 compared with the same period last year, while consumer and business surveys indicate rising confidence.

This month’s articles: “UK recovery: how strong and how long?” and “Scotland’s currency choices”