All RDAs across England are closing by March 2012
(see transition and closure section).
With our resources reducing steadily, this page has not been recently updated and the information below may not be current.
If in doubt, please contact us directly.
Revised Real GDP- Blog
27 August 2010
Nigel Jump, Chief Economist
The revised UK GDP figures for April-June increased the real
rate of growth slightly from +1.1 per cent to +1.2 per cent. This
strong figure reflected an even better performance by construction
of +8.5 per cent, recovering from the poor weather earlier in the
year.
Manufacturing and business services did well (+1.6 per cent and
+1.5 per cent respectively) in the second quarter. In contrast, the
rest of services were relatively subdued, including a large fall of
-2.2 per cent in transport and communications.
Consumer spending was +0.7 per cent higher last quarter. Other
expenditure measures were subdued with investment still negative
(-2.4 per cent), government spending slowing noticeably (+0.3 per
cent) and net exports (+0.2 per cent) also only modestly
increasing.
It is likely that consumer spending will be boosted in the last
four months of the year ahead of the VAT increase in January. This
trend may make 2010 growth higher than most forecasters currently
expect, albeit at the expense of output in 2011 when tax increases,
spending cuts and more uncertainty about incomes and employment
will damage demand.
For more information contact Claire Wickes on 01392 229 389 or
via e-mail on claire.wickes@southwestrda.org.uk