UK GDP remains unrevised for fourth quarter of 2015

UK gross domestic product in the fourth quarter of 2015 remained in line with forecasts, rising 0.5% on the previous quarter and 1.9% year-on-year.

The Office for National Statistics provided a final reading on the figures for the nation's growth in the three months to December that were both in line with its previous estimates and economists' forecasts. It compares to third quarter GDP growth of 0.4% quarter-on-quarter and 2.1% year-on-year.

GDP for 2015 as a whole was also left at 2.2%, down from 2.9% in 2014.

"The fact that quarterly UK GDP growth in the fourth quarter was left unrevised at 0.5% was expected, but nonetheless comes as a bit of a relief given the jitters about the global recovery at the moment," said Vicky Redwood, chief UK economist at Capital Economics.

In January, Bank of England Governor Mark Carney stressed that he wanted to see above-average economic growth and an improvement in wage rises before hiking interest rates.