Tuesday, November 01, 2011
GDP calm in the storm
Posted by David Smith at 03:00 PM
Category: Thoughts and responses

Unusually, the third quarter gross domestic product numbers contained no huge surprises - good or bad - the third quarter rise of 0.5% being broadly in line with expectations and broadly acceptable.

Though growth over the past 12 months has been a modest 0.5%, growth through the year gives a better picture of an economy growing quite modestly, at a 1% to 1.5% rate.

The third quarter numbers were boosted by a 0.7% rise in service sector output and a 0.5% rise in industrial production. But construction output fell by 0.6%,

Of course with the eurozone threatening to implode and the manufacturing purchasing managers' index in October dropping sharply to 47.4, there are bigger issues out there. The GDP figures are here.