UK GDP revised higher in final Q1 estimate

UK growth in the first quarter of 2015 stood at 0.4%, according to the third and final estimate from the Office for National Statistics.

The ONS revised up its estimate from 0.3%, which had represented the worst quarterly figure since the final three months of 2012. The increased estimate remains lower than GDP rates seen in recent quarters but was revised up as a result of methodological changes to construction output, the ONS said. Year-on-year GDP was revised up from 2.4% to 2.9%, higher than the 2.5% figure economists' had forecast. A final 3% figure for 2014 as a whole marked the best growth rate since 2006. Less positive news, however, came in the form of the UK's current account deficit. Figures for 201...