GDP

Quarterly and annualised UK growth figures for Q4 2014 have narrowly missed expectations after the construction sector underwhelmed at the end of the year.

The Office for National Statistics has confirmed UK Q3 GDP came in at 0.7% but revised down figures for the previous five quarters.

Japan's economy shrank more than initially estimated in the third quarter of 2014, according to revised gross domestic product (GDP) figures.

Japan's economy unexpectedly shrank for the second consecutive quarter, marking a technical recession in the world's third largest economy.

Britain's economy is cooling but will continue to be among the strongest in the developed world in the coming years, according to experts.

UK GDP growth stood at 0.7% in the third quarter, according to the Office for National Statistics (ONS), down from 0.9% in Q2 but in line with economists' expectations.

The UK economy will grow by 2.4% in 2015, well below the 3.1% growth expected this year, forecasting group EY Item Club has said.

The Office for National Statistics has revised second quarter growth figures in the UK up from 0.8% to 0.9% in its final estimate.

The UK has climbed a place in a major annual economic survey assessing competitiveness and productivity in 144 countries.

The UK economy will grow faster in 2014 than any other G7 economy, while low wage rises will ensure interest rates do not rise until next year, an influential report has forecast.