UK's GDP Growth Confirmed

The Office for National Statistics (ONS) confirmed on Friday that the United Kingdom's gross domestic product (GDP) experienced a modest quarterly increase of 0.1% in the fourth quarter of 2024. This figure aligns with the preliminary estimates previously released, indicating a stable but slow growth trajectory for the UK economy.

Sector Performance Highlights

Services Sector: Showed a slight increase of 0.1% in output terms compared to the previous quarter.

Construction: Demonstrated a more robust growth of 0.3%, showcasing resilience in this sector.

Production: Unfortunately, this sector saw a decline of 0.4%, reflecting challenges in manufacturing and industrial output.

Year-on-Year Growth

On a year-on-year basis, the UK economy expanded by 1.5%, slightly surpassing expectations and indicating a gradual recovery path.

Stay tuned for more updates on the UK's economic performance and analysis.