Economic Indicators
February 25, 2016
Number 02787
A3: Components of GDP
GDP can be analysed in terms of the output produced of different
industries of the economy and by expenditure on goods and services
made by households, businesses and the government.
Overall, GDP increased by 0.5% in real terms in Q4 2015 compared
with the previous quarter.
GDP by Industry
In 2014, the service sector accounted for around 78% of economic
output, the production sector for 15% and the construction sector for
6%.
In Q4 2015, service sector output
increased by 0.7% in real terms
compared with Q3 2015.
Manufacturing output was flat
(and overall the production sector
decreased by 0.5%). Output in the
construction sector decreased by
0.4%.
Service sector
quarterly growth (%)
1.0
0.8
0.6
0.4
0.2
0.0
2013
2014
2015
GDP by Expenditure
Household consumption is the largest element of expenditure,
accounting for 62% of the total in 2015. Government consumption
accounted for 19% and investment for 17%.
In Q4 2015, household
consumption grew by 0.7% in
real terms compared with Q3
2015. Government consumption
was up 0.5% and investment
was down 0.1%.
Household Consumption
quarterly growth (%)
1.0
0.8
0.6
0.4
0.2
0.0
2013
2014
Subject Specialist
Exports fell by 0.1% while
imports increased by 1.2%.
2015
Daniel Harari
x2464
GDP by expenditure
% change on previous quarter (real terms)
Household Government
consumption consumption
Update
Investment
Exports
Imports
GDP
2014 *
2015 *
2.6
3.0
2.5
1.7
7.3
4.2
1.2
5.0
2.4
6.2
2.9
2.2
2014 Q4
Q1
2015 Q2
Q3
Q4
0.6
0.8
0.9
0.8
0.7
-0.3
0.5
1.0
0.6
0.5
0.1
1.4
1.6
-0.1
-0.1
3.8
-0.3
3.0
-0.5
-0.1
2.8
3.3
-2.4
2.7
1.2
0.7
0.4
0.6
0.4
0.5
Source: ONS series ABJR, NMRY, NPQT, IKBK, IKBL and ABMI
Note: * annual % change
ONS, Quarterly
National Accounts, 31
Mar 2016
ONS, Gross Domestic
Product: Preliminary
Estimate, 27 Apr 2016
ONS, Second Estimate
of GDP, 26 May 2016
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