• Economic update - 17 December 2018

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    December 18, 2018
    UK GDP on the rolling three-month growth measure increased by 0.4% in October 2018, down from 0.6% September 2018. On the monthly measure, UK GDP increased by 0.1% in October 2018, up slightly from zero growth in September. Growth in output from the services sector grew by 0.2% in October. Output from the construction sector dropped by 0.2%, while total industrial production decreased by 0.6% in the month.
    In the three months to October 2018, the number of people in employment rose by 79,000 on the previous three-month period. UK unemployment increased by 20,000 over the same period. The number of job vacancies currently stands at 848,000, a new record high. The UK’s trade deficit in goods and services widened by £3.1 billion to £10.3 billion in the three months to October 2018. The UK’s trade deficit in goods widened by £1.7 billion to £35.5 billion and the UK’s trade surplus in services narrowed by £1.3 billion to £25.2 billion.
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