UK GDP in Q1 estimated to have increased 0.8% on gains in services, production and construction output; services output up 0.4%, largest contributors from information and communication, accommodation and food, transportation and storage industries: ONS

LONDON , May 12, 2022 (press release) –

First quarterly estimate of gross domestic product (GDP). Contains current and constant price data on the value of goods and services to indicate the economic performance of the UK.

Main points

• UK gross domestic product (GDP) is estimated to have increased by 0.8% in Quarter 1 (Jan to Mar) 2022, and by 8.7% compared with Quarter 1 2021.
• In output terms, services increased by 0.4% with the largest contributors from information and communication, accommodation and food, and transportation and storage industries, while there was a decline in wholesale and retail.
• In Quarter 1 2022, there was a 0.6% increase in household consumption partially offset by large movements in international trade flows; however, there is some additional uncertainty on the EU trade flows because of recent changes in how some of these data are collated.
• The level of quarterly GDP in Quarter 1 2022 is now 0.7% above its pre-coronavirus level (Quarter 4 (Oct to Dec) 2019).
• Monthly estimates published today show that GDP rose by 0.7% in January, whereas there was no growth in February 2022 and a fall of 0.1% in March 2022.

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