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Monday 01st of March 2010
February 26, 2010    

ONS to publish second Q4 GDP estimate

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by Kay Murchie

Last month, the Office for National Statistics (ONS) revealed the UK crawled out of recession in the fourth quarter by seeing growth of just 0.1% in the final three months of 2009.

However, the figures were only the first estimate and the second estimate is to be released this morning.

Yesterday, the ONS reported a sharp fall in business investment, which raised concerns over the second estimate of fourth quarter GDP figures.

A large business investment is an indication of overall growth and demand in the UK economy and therefore analysts are concerned that the figures could be revised downwards.

As a result, the pound has fallen to a nine-month low against the dollar falling 1.4 cents to $1.5261 - the lowest level since May 2009.

“The moves in sterling have gone further than most other currencies because of the poor UK data, raising concerns that weaknesses in the economy remain,” according to Lauren Rosborough, currency strategist at Westpac.

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