Economy Gross domestic product (GDP) grew by 0.7% in Quarter 4 (Oct to Dec) 2016, revised up by 0.1 percentage points from the preliminary estimate.
Production activity increased 1.2% during 2016 due to increased manufacturing output.
Quarterly profits grew at the fastest rate for 2 years.
Consumer prices have risen in the UK and other developed countries in 2016 with higher oil prices a contributing factor.
House prices in London have grown around twice as fast as in Great Britain as a whole since 2011.
The labour market shows continued strength with unemployment at 4.8% in Quarter 4 2016; however, the proportion of part-time workers who want to work full-time remains above the pre-downturn average.
UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.7% between Quarter 3 (July to Sept) 2016 and Quarter 4 (Oct to Dec) 2016, revised up 0.1 percentage points from the preliminary estimate of GDP published on 26 January 2017. Upward revisions (due to later data received) within the manufacturing industries is the main reason (these revisions were first published as part of the Index of Production for December 2016 released on 10 February 2017).
This release shows that services output increased by 0.2% between November 2016 and December 2016, marking the seventh consecutive month-on-month positive services growth.
The biggest contributor to this growth was transport, storage and communication, which increased by 1.8%, the biggest contribution to this growth came from the motion picture industry.
Gross fixed capital formation (GFCF), in volume terms, was unchanged at £78.0 billion, in Quarter 4 (Oct to Dec) 2016, when compared with Quarter 3 (July to Sept) 2016.
Between Quarter 3 2016 and Quarter 4 2016, business investment, in volume terms, was estimated to have decreased by 1.0%, from £44.0 billion to £43.5 billion.
Public sector finances analytical tables (PSAT) showing transactions related to borrowing by sub-sector. Total Managed Expenditure (TME) is also provided. This article summarises the effect of the methodological and processing improvements described in Changes to the gross fixed capital formation methodology and processing, (McLaren and Murphy, January 2017) on the gross fixed capital formation (GFCF) and business investment estimates for Quarter 1 (Jan to Mar) 2016 through to Quarter 3 (July to Sept) 2016. The Business Investment in the UK: Quarter 4 (Oct to Dec) 2016 provisional resultsrelease is the first to include these improvements, which have impacted on current price (CP) and chained volume measures (CVM) of GFCF. People, population and community The number of new cases of cancer in England continues to rise and in 2015 there were 299,923 cancers registered – an equivalent to 822 per day. More cancers were registered in males (153,061) than females (146,862). Across the majority of cancer sites more males are diagnosed with cancer than females. | 
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