British retailers barely saw any increase regarding volume
Britain's Gross Domestic Product (GDP) increased by 0.2 per cent in the second quarter of 2011, following an increase of 0.5 per cent in the first quarter of 2011.
There were a number of special events associated with 2011 Q2 including; the additional April bank holiday; the royal wedding and the after effects of the Japanese tsunami.
It is not possible to state precisely what the net overall impact of these special effects might have been. Analysis that we have carried out indicates that Q2’s special events may have had a net downward impact on Q2 2011 GDP of 0.4 in the services sector and 0.1 in the production sector. These estimates are broad brush and illustrative. There can be no certainty as to the impact of the special events and there may be other factors at play.
More detail on the impact of these special events can be found in the Gross Domestic Product preliminary estimate statistical bulletin published on 26 July 2011.
Total services output increased by 0.5 per cent in the second quarter compared with an increase of 0.9 per cent in the previous quarter. The largest contribution to the growth in this quarter was from business services and finance.
Business services and finance increased by 0.7 per cent, compared with an increase of 0.4 per cent in the previous quarter. Other business services contributed most to the growth in this quarter.
Transport, storage and communication increased by 1.1 per cent, compared with an increase of 2.5 per cent in the previous quarter. Land transport contributed most to the growth in this quarter.
Government and other services showed zero growth, compared with a 1.1 per cent increase in the previous quarter. Health made the largest positive contribution to the quarter, partially offset by a negative contribution from recreation.
Distribution, hotels and restaurants increased by 0.3 per cent, compared with an increase of 0.9 per cent in the previous quarter. Hotels and restaurants contributed most to the growth in this quarter.
Construction output increased by 0.5 per cent in the second quarter, compared with a decrease of 3.4 per cent in the previous quarter.
Total production output decreased 1.4 per cent in the second quarter of 2011, compared with a decrease of 0.1 per cent in the previous quarter. The largest contribution to the decline in this quarter was from mining and quarrying.
Manufacturing decreased by 0.3 per cent compared with an increase of 0.7 per cent in the previous quarter.
Mining and quarrying decreased by 6.6 per cent, compared with a decrease of 1.8 per cent in the previous quarter.
Electricity, gas and water supply decreased by 3.2 per cent, compared with a decrease of 3.5 per cent in the previous quarter.
Agriculture, forestry and fishingoutput decreased 1.3 per cent, compared with an
increase of 0.1 per cent in the previous quarter.
Related news
Related news
The Cyclist-Friendly Service Provider of the Year was elected
The Hungarian Cycling Tourism Association (MAKETUSZ) has awarded the Cyclist-Friendly…
Read more >Arabica coffee price hits 47-year high
The futures price of arabica coffee has reached a 47-year…
Read more >Viktor Orbán: economic growth exceeding three percent is realistic next year
Economic growth exceeding three percent in 2025 is realistic in…
Read more >