The UK economy is very stable compared to other European countries. Amid a global economic slowdown and declining corporate investment, consumer spending has driven the UK economy to grow for 12 consecutive quarters.
Investors looking to immigrate to the UK have learned that, according to data released by the Office for National Statistics (ONS), UK household spending increased by 0.7% from October to December, helping to offset the impact of a second consecutive quarter of declining exports and the largest drop in corporate investment in nearly two years. The data also showed that the UK economy grew by 0.5% quarter-on-quarter in the fourth quarter, consistent with the initial estimate.
These figures reinforce the view that the UK economy is almost entirely relying on domestic demand to drive growth amid deepening global economic troubles.
In terms of sub-sector data, exports fell by 0.1% in the fourth quarter, with net trade reducing the economic growth rate by 0.4 percentage points. Corporate investment decreased by 2.1%, marking the largest decline since the first quarter of 2014, influenced by the divestment of transportation assets.
Additionally, investment in the first and third quarters of 2015 has also been revised downwards. Government spending rose by 0.5%.
The latest data also shows that employee compensation grew by 0.7% in the fourth quarter. GDP per capita increased by 0.3%.