UK Growth Slowed Right Down In The Final Quarter Of 2014

OsborneREUTERS/Andy RainGeorge Osborne, chancellor of the exchequer.

UK GDP growth dropped to 0.5% in the final quarter of the year, missing expectations.

Analysts had been expecting a slight slowdown in growth in the final three months of the year, back to 0.6% quarter-on-quarter, from 0.7% in Q3.

Growth was still 2.7% higher than it was four quarters earlier.

The UK had some disappointing construction and industrial production figures to cap off 2014, but on the other hand retail sales swelled by 4.3% year-on-year in December.

That followed a 6.4% boost year-on-year in November, as consumers were driven into a frenzy by Black Friday deals.

You can see that here. Despite a strong performance from services like retail, construction dragged the GDP figures down:

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