IMPROVING LIVES THROUGH DATA ECOSYSTEMS

The seasonally adjusted real GDP at market prices for the fourth quarter of 2011 increased by an annualised rate of 3,2 per cent compared with an increase of 1,7 per cent (revised from an increase of 1,4 per cent) during the third quarter of 2011.

The main contributors to the increase in economic activity in the fourth quarter of 2011 were the wholesale, retail and motor trade, catering and accommodation industry (0,7 of a percentage point), the manufacturing industry and general government services (each contributing 0,6 of a percentage point), finance, real estate and business services (0,5 of a percentage point), the transport, storage and communication industry (0,3 of a percentage point) and personal services (contributing 0,2 of a percentage point).

The seasonally adjusted real annualised value added by the secondary and tertiary sectors each increased by 3,5 per cent, while the primary sector recorded a decrease of 1,0 per cent during the fourth quarter of 2011.

The unadjusted real GDP at market prices for the fourth quarter of 2011 increased by 2,9 per cent compared with the fourth quarter of 2010.

Real annual GDP increased by 3,1 per cent in 2011

First preliminary annual estimates of gross domestic product (GDP) are derived as the sum of the GDP for the four quarters of the specific year. These estimates indicate that the real annual GDP at market prices for 2011 increased by 3,1 per cent compared with 2010, when the real annual economic growth rate was 2,9 per cent.

The main contributors to the increase in economic activity in 2011 were finance, real estate and business services (0,7 of a percentage point), general government services and the wholesale, retail and motor trade, catering and accommodation industry (each contributing 0,5 of a percentage point), the manufacturing industry (0,4 of a percentage point) and the transport, storage and communication industry (0,3 of a percentage point).

The GDP estimates are preliminary, and may routinely be revised on the basis of additional evidence that has become available by the time the subsequent quarter's estimates are released.