Production and construction sectors slow

UK GDP is estimated to have increased by 0.5% in Q4 2014 compared with growth of 0.7% in the third quarter of last year.

According to the Office for National Statistics (ONS), output increased in two of the four main industrial groupings within the economy: +0.8% in services and +1.3% in agriculture.

During the same period, output decreased by 1.8% in construction and 0.1% in production, leaving GDP 2.7% higher than in Q4 2013.