Home / Knowledge / News / Textiles / UK GDP grows for 10th successive quarter
UK GDP grows for 10th successive quarter
05
Sep '15
The second estimate of Gross Domestic Product (GDP) indicates that the UK economy grew by 0.7 per cent in the second quarter of 2015, the tenth successive quarter of output growth. The first information on expenditure components showed continued growth in household spending as well as a strong increase in export growth. Following this period of growth, the UK economy is now estimated to be 5.2 per cent larger than in Q1 2008.

According to the Economic Review September 2015, released by the UK's Office for National Statistics, this recent rise in exports notwithstanding, net trade made a small and erratic contribution to GDP growth during the recovery as a whole. Exports and imports grew at broadly similar rates over this period.

The fall in Consumer Price Inflation (CPI) below 1 per cent in recent months is concentrated in relatively import intensive products. Growth in the GDP deflator - a broad measure of inflation across the economy - has also declined since 2014. Since the downturn growth in the GDP deflator has been lower than growth in consumer prices – explained in part by low capital goods inflation in 2010 and 2011.

While unemployment remained low in Q2 2015, hiring from the unemployed remained strong compared with pre-downturn trends.
Firms are increasingly hiring from those already employed, signalling potential tightness in the labour market.

A concentration of low paid work in particular industries is one factor which may determine the effect that the National Living Wage will have on the labour market.

The largest contribution to quarter on same quarter a year earlier GDP growth came from private consumption, while the contributions of fixed investment and government consumption remained relatively stable.

The review found that growth in goods exports, especially those in finished manufactures, have been as important to export growth as services exports.

While GDP growth has been strong, Consumer Price Inflation (CPI) has fallen in recent quarters mainly due to relatively import intensive goods, such as new cars and other household durable goods.

Comparing CPI to the GDP deflator - which captures the weighted movement in the prices of the goods and services which are included in GDP - suggests that low capital goods inflation partly offset higher consumption inflation during 2010 and 2011. The result is that domestic inflation pressures may therefore have been lower than implied by the CPI until recently.

The unemployment rate in Q2 2015 stood at 5.6 per cent, up slightly from 5.5 per cent in the previous quarter. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search