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The End of the U.K.’s Economic Slump?

The United Kingdom may have pulled out of a downward economic cycle. At least that is what official government data shows. For the third quarter of this year, gross domestic product rose 1% compared with the second quarter. The only…

By Trey Thoelcke
Published October 25, 2012, 6:43am ET · 1 min read

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The United Kingdom may have pulled out of a downward economic cycle. At least that is what official government data shows. For the third quarter of this year, gross domestic product rose 1% compared with the second quarter.

The only dark spot was construction, where economic activity fell 2.5%. Based on this, the U.K. is no different from any other large developed economy that is still staggered by real estate problems — both commercial and residential.

The preliminary data from the Office of National Statistics:

  • GDP was estimated to have increased by 1.0 per cent in Q3 2012 compared with Q2 2012
  • Output of the production industries was estimated to have increased by 1.1 per cent in Q3 2012 compared with Q2 2012, following a decrease of 0.7 per cent between Q1 2012 and Q2 2012
  • Construction sector output was estimated to have decreased by 2.5 per cent in Q3 2012 compared with Q2 2012, following a decrease of 3.0 per cent between Q1 2012 and Q2 2012
  • Output of the service industries was estimated to have increased by 1.3 per cent in Q3 2012 compared with Q2 2012, following a decrease of 0.1 per cent between Q1 2012 and Q2 2012
  • GDP in volume terms was estimated to have been flat in Q3 2012, when compared with Q3 2011

Douglas A. McIntyre

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Trey Thoelcke

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.

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