UK GDP estimated to have declined by 0.1% in March following no growth in February; service sector fell by 0.2%, production output down by 0.2%: ONS

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LONDON , May 12, 2022 (press release) –

Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.

Main points

  • Gross domestic product (GDP) fell by 0.1% in March 2022, after no growth in February 2022 (revised down from 0.1% growth).
  • Services fell by 0.2% on the month and was the main contributor to March’s fall in GDP, reflecting a large decrease (15.1%) in the wholesale and retail trade and repair of motor vehicles and motorcycles industry.
  • Production also fell on the month by 0.2%; these falls were partially offset by construction, which grew by 1.7%.
  • Output in consumer-facing services fell by 1.8% in March 2022, following a 0.5% (revised down from 0.7%) growth in February 2022; non-consumer facing services grew by 0.2% on the month following a 0.1% fall in February (revised down from 0.0%).
  • Monthly GDP is now 1.2% above its pre-coronavirus (COVID-19) pandemic level (February 2020).
  • Services is now 1.5% above its pre-coronavirus level, while construction is 3.7% above and production is 1.6% below; within services, consumer-facing services were 6.8% below their pre-coronavirus levels in March 2022, while all other services were 3.6% above.

Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.

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