Latest News:  


Britain's GDP grows 0.3 pct in Q1


19:18, June 27, 2013

LONDON, June 27 (Xinhua) -- Britain's gross domestic product (GDP) in volume terms was estimated to have increased by 0.3 percent between the last quarter of 2012 and the first quarter of 2013, unrevised from the previous publication, said the Office for National Statistics (ONS) on Thursday.

In current prices, British GDP was estimated to have increased by 0.9 percent for the same period.

The households' saving ratio was estimated to be 4.2 percent in last quarter, the weakest since the first quarter of 2009 when it was 3.4 percent, the third reading of the ONS on National Account showed.

Real household disposable income increased by 1.4 percent between 2011 and 2012. This is the highest growth since 2009 when it rose by 1.6 percent.

Meanwhile, the overall current account deficit actually widened from 13.6 billion pounds (20.8 billion U.S. dollars) to a colossal 14.5 billion pounds (or 3.6 percent of GDP) last quarter, in another report released by the ONS on the same day.

"We think the record deficit highlights the potential for policymakers to switch their attention to doing more to keep the pound down," said Capital Economics, the London-based economy research company.

"Overall, we remain cautious about the economy's near-term prospects and still think that Mr. Carney (who will become the governor of the Bank of England from July) should, and will, take action after he arrives next week to ensure the recovery gains traction," it said.

We Recommend:

'All in Tuning All in Caravanning' Show

HK's new cruise terminal receives luxury liner

Huawei unveils thinnest smartphone in Singapore

Airbus A350 lands safely from test flight in S. France

Special coverage: China-EU solar row

Highlights of ATC Show 2013

Top 10 luxury villas of China in 2013

Turn rabbit to 'gold' - A young entrepreneur's goal

Hilton to open 120 new hotels in China

Email|Print|Comments(Editor:YanMeng、Wang Jinxue)

Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Special operation members in training

  2. People present wishes to Mandela

  3. Rescue operations resume in India

  4. A university graduate's shepherd career

  5. Father Chen and his 2,000 children

  6. Photos: Hazy life in Beijing

  7. Most beautiful bodies in the world

  8. Are they still beautiful without bang?

  9. Chinese shares extend losses

  10. Setting sail into uncharted waters

Most Popular


  1. No pains, no gains for China's economy
  2. 'Kingdom of Bicycles' rises again
  3. Positive energy needed in Sino-British relations
  4. Chinese official calls for balance in urbanization
  5. US role in Syria exposes the evils of hegemony
  6. Prism program – who are the principal victims?
  7. Stocks hold steady, but brokers still cautious
  8. China 'most promising' in FDI
  9. Shanghai kids more likely to have asthma
  10. Money not the answer to all problems

What’s happening in China

A university graduate's shepherd career

  1. Teens learn looks count
  2. Woman, 68, washes dishes for grandson's college
  3. 19 foreigners arrested for shoplifting
  4. Old couple sells home to give 1.6m yuan to college
  5. Guangzhou adding 72-hour transit visa waiver