Gross Domestic Product: Economic Indicators page - Commons Library Standard Note

Published 01 March 2013 | Standard notes SN02783

Authors: Grahame Allen, John Bardens

Topic: Economic situation

In February, HM Treasury’s average of independent economic forecasts of GDP growth for 2012 was 0.0% and 0.9% for 2013.

The economy contracted by an estimated 0.3% in Q4 2012 (unrevised from the first estimate), following an increase of 0.9% in Q3 2012.

The Office for Budget Responsibility’s (OBR) central forecasts from December 2012 are -0.1% growth for 2012 and 1.2% for 2013.

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