U.K Gross Domestic Product at 0.2%

Friday, 26 August 2011 12:11

Office for National Statistics announced United Kingdom's Gross Domestic Product; a second quarter estimate.

GDP quarter-on-quarter reports are released 55 days after the quarter ends.  GDP measures the change in the inflation-adjusted value of all goods and services produced by the economy, and works as the primary gauge of the economy's health.

Second quarter GDP in the United Kingdom were released as estimated at 0.2%.  Gross Domestic Product increased by 0.7% in the second quarter of 2011, compared with the second quarter of 2010.

Furthurmore, service industries output increased by 0.5%.