UK 2014 Q3 Nominal GVA, Early Estimate
Eagle-eyed reader James noticed earlier this year that the ONS have started releasing a low-level breakdown of GDP which includes current price data even in the “Month 1” GDP data. The official data in each quarter’s Month 1 estimate only has volume (real) measures of GDP, so previously we had to wait for the Month 2 estimate to get nominal GDP. The low-level breakdown is for GVA so I’ll compare against the official series for nominal GVA:
|Q/Q Growth at Annual Rates, %|
The estimate suggests nominal demand growth has continued at a reasonable pace in Q3, adjusting for the “tyranny of low expectations” which allows me to believe 4% NGDP growth is “reasonable”. Year-on-year growth comparing the low-level data with official nominal GVA:
Thanks to James for finding this data source.