UK economic output rose by 0.5% in Q4 2015 and by 2.2% for the year as a whole led by the services sector, once again, driving the growth. Meanwhile, output in the industrial production and construction sectors contracted in Q4 but output rose modestly on an annual basis.
While the UK economy is expanding faster than most developed nations, growth has slowed notably from 2014 while survey indicators point to a further cooling in the near term. Some slowdown was always likely following the above trend rate of 2014. However, disentangling this moderation from the potential impact of recent adverse global developments is difficult, and political uncertainties regarding the UK’s future in Europe will further cloud the underlying growth picture in the coming quarters.
Source : RICS