UK's GDP confirmed as expanding by 0.1% in Q4 - Breaking The News

UK's GDP confirmed as expanding by 0.1% in Q4

28 March

1 min read

UNSPLASH.COM/CONNOR MOLLISON

The United Kingdom's gross domestic product (GDP) saw a quarterly rise of 0.1% in the fourth trimester of 2024, the Office for National Statistics (ONS) said in its report issued on Friday. The figure matched the one from the preliminary estimate.

Compared to the previous quarter, the services sector's activity rose by 0.1% in output terms. Construction expanded by 0.3%. On the other hand, production declined by 0.4%.

Year-on-year, Britain's economy expanded by 1.5%, slightly above estimates. Services rose by 1.9% and construction by 0.9%, while production decreased by 1.1%.

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