Office for National Statistics
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Second Estimate of GDP, Q2 2014

Key points

  • Change in gross domestic product (GDP) is the main indicator of economic growth. As previously announced, this second estimate of GDP for Q2 2014 is based entirely on output data and does not include information on the expenditure and income components of GDP.
  • GDP increased by 0.8% in Q2 2014, the second consecutive quarter-on-quarter increase of 0.8%. This figure is unrevised from the preliminary estimate of GDP published on 25 July 2014.
  • Output increased in two of the four main industrial groupings within the economy in Q2 2014 compared with Q1 2014. In order of their contribution, output increased by 1.0% in services and by 0.3% in production. However, output was flat in construction and decreased by 0.2% in agriculture.
  • In Q2 2014 GDP was estimated to be 0.2% above the pre-downturn peak in Q1 2008. From peak to trough in 2009, the economy shrank by 7.2%.
  • GDP was 3.2% higher in Q2 2014 compared with the same quarter a year ago, revised from 3.1% as published in the preliminary estimate.
  • All figures in this release are seasonally adjusted.
Get all the tables for this publication in the data section of this publication 
Channel website: https://www.ons.gov.uk/

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