UK GDP estimated to have shown no growth in June following a 0.4% increase in May; services output fell by 0.1% led by wholesale and retail trade, production output grew 0.8% driven by manufacturing: ONS

August 19, 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 shown no growth in June 2024, following unrevised growth of 0.4% in May 2024.
• Real GDP is estimated to have grown by 0.6% in the three months to June 2024, compared with the three months to March 2024 with widespread growth in the services sector driving growth in this period.
• Services output fell by 0.1% in June 2024, following unrevised growth of 0.3% in May 2024, but grew by 0.8% in the three months to June 2024.
• Production output grew by 0.8% in June 2024, following growth of 0.3% in May 2024 (revised up from 0.2% in our last publication), but fell by 0.1% in the three months to June 2024.
• Construction output grew by 0.5% in June 2024, following growth of 1.7% in May 2024 (revised down from 1.9% in our last publication), but fell by 0.1% in the three months to June 2024.
• There are revisions to April and May 2024 in this monthly release in accordance with the National Accounts revision policy; data revisions up to 2022, as announced in our Blue Book 2024: Advanced aggregate estimates release, and any additional updates to data from 2023 onwards, will be published in our monthly GDP release on 11 October 2024.

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