UK GDP estimated to have increased 0.1% in February following a growth of 0.3% in January; services output grew by 0.1%, production output up 1.1%: ONS

LONDON , April 12, 2024 (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

• Monthly real gross domestic product (GDP) is estimated to have grown by 0.1% in February 2024, following growth of 0.3% in January 2024 (revised up from 0.2% growth in our previous publication).
• Real gross domestic product is estimated to have grown by 0.2% in the three months to February 2024, compared with the three months to November 2023.
• Services output grew by 0.1% in February 2024, following growth of 0.3% in January 2024 (revised up from 0.2% growth in our previous publication), and has grown by 0.2% in the three months to February 2024.
• Production output grew by 1.1% in February 2024 and was the largest contributor to the growth in GDP in the month, following a fall of 0.3% in January 2024 (revised down from a 0.2% fall in our previous publication); production output grew by 0.7% in the three months to February 2024.
• Construction output fell by 1.9% in February 2024, following an unrevised growth of 1.1% in January 2024; construction output has fallen by 1.0% in the three months to February 2024.

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