20 January 2014 | Will Green
Growth in firms’ inventory levels was the biggest driver of UK GDP growth in the third quarter of 2013, according to OECD figures.
UK inventory levels grew by 1 per cent during the period, compared to a drop of 0.1 per cent in the previous quarter, a rise higher than in any other G7 country.
The second biggest growth driver was personal consumption of 0.6 per cent, but a decline in exports of 1.2 per cent lowered the overall rate of economic growth to 0.8 per cent.
An increase in stock levels was also the main growth driver across the 34 member countries of the OECD, contributing 0.3 per cent to an overall GDP rise of 0.6 per cent.