The UK’s gross domestic product grew by 0.6% in the first quarter of 2024 compared to the previous quarter, according to estimates from the Office for National Statistics.
The positive data came after a 0.3% decline in the fourth quarter and a 0.1% decline in the third quarter, meaning that the country has thus emerged from what is called a technical recession.
Compared to the same quarter of the previous year, expectations indicate that UK GDP will grow by 0.2% in the first three months of the year.
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Growth in the fourth quarter was driven by a 0.7% increase in services output. Early estimates suggest that 13 of the 20 subsectors grew in the first quarter, compared with 6 subsectors that increased in the previous quarter.
The manufacturing sector is estimated to have grown by 0.8% in the fourth quarter, following a 1.1% decline in the fourth quarter of 2023. This reflects a 0.5% decline in January 2024, followed by growth of 1.0% and 0.2% in February and March, respectively.
The construction sector fell by 0.9% in the first quarter of 2024, after a 0.9% decline in the previous quarter. The level of construction output in the first quarter of 2024 was 0.7% lower than in the same quarter of the previous year.
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Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
