What happen to the growth in period 2003 to 2007?

In first quarter of the year 2004 there was a slightly fall in the GDP, then it lead to remain quarters if the year to furthermore fall in the GDP. There was continues fall in GDP till to the end of the year 2005. Then from end of the year 2005 the GDP started jumping towards 3% growth rate. Before the start of the year 2007 GDP was floating on 3% growth rate. Then there was again a slight fall in GDP at the end of 1^st quarter of the year 2007. Then again GDP picked up the momentum and went over the 3% growth rate which was the boom period. After that in 2008(3^rd Quarter) GDP suddenly collapsed and went to 0.5% growth rate at very fast speed.         

             

Following information can be found from these changes in GDP:

2006 to 2007 was boom period at that time total demand for the goods and services was high. Businesses react to this by increasing production and employment and they also decide on to enlarge profit margins by raising prices. High production and sales leaded GDP to rise at more than normal rate. The bank of England raised interest rates during this time period. Salaries of people were good enough to spend on leisure and luxury goods.