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November 15, 2024UK GDP Q3 2024 (FIRST ESTIMATE) 
The Office for National Statistics (ONS) released the first estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q3 2024 and reported an increase of 0.6%. The quarterly gain follows an increase of 1.8% in the second quarter of 2024.
Output in services and construction grew while production fell in the third quarter of 2024. Services output rose with growth across most of the sector, with 8 out of 14 subsectors increasing in the third quarter. The largest gain was in the professional, scientific and technical activities subsector. Production output is estimated to have fallen 0.2% on a decline in electricity, gas, steam and air conditioning supply. Manufacturing output grew 0.2%, with 7 of 13 manufacturing subsectors reporting an increase in the third quarter. The largest gain among manufacturing subsectors was in basic metals and metal products. Construction output increased in the third quarter following three consecutive quarterly declines. New work was up 2.0%, with the largest contributor within new work being infrastructure.
Source: Office for National Statistics
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