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3 graphs that show the UK's fastest economic growth since 2007

by LLB Editor January 28, 2014

written by LLB Editor 28^th Jan 14 10:02 am

Hurrah! The UK economy grew by 0.7% in the fourth quarter of 2013, its fastest growth since 2007.

The surge in the fourth quarter has brought annual growth to 1.9%.

“We’ve seen growth in most parts of the economy,” said Joe Grice, chief economist at the ONS.

However, the figures were below the third quarter’s 0.8% growth.

Output increased by 0.5% in agriculture, 0.7% in production and 0.8% in services. However, output decreased by 0.3% in construction.

In reaction to the figures, Chancellor George Osborne tweeted: “Growth is broadly based with manufacturing growing fastest. The job is not done & the biggest risk to recovery would be abandoning the plan.”

Here are three charts to explain the ONS figures…

Economic chart