UK economy posts stable growth in Q4
The growth in GDP in Q4, albeit at a slower pace, was attributed to the increase in services, retail sales and travel agency services.
Data from ONS indicated that construction and manufacturing sectors made modest contributions to the GDP growth by 0.1% and 0.7% respectively. Meanwhile, the mining sector posted the biggest drop of 5 years by 6.9%.
In 2016, GDP was up by 2%, according to the data. This was a slower growth than the 2.2% posted in 2015. The Office for Budget Responsibility had previously estimated the UK economy to grow by 2.1% for the full year of 2016, revising its initial estimate of 2.2%.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Bearish PP trend takes no respite on lackluster demand in Turkey
- India import PVC market recedes from all-time high on COVID-hit demand
- Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
- Vietnamese PE buyers hold off purchases on fears of further price pullback
- European PS on brink of a softer trend after 6 months
- Turkish PP and PE players voice bearish expectations for May
- China’s local homo-PP prices slide below imports
- Irregular PE origins emerge at competitive prices in Europe
- Mid-Eastern sellers backpedal in Africa on competitive PP, PE offers from Asia
- European PVC set to extend longest rising streak into May