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November 14, 2022UK GDP Q3 2022 (FIRST ESTIMATE) 
The Office for National Statistics (ONS)' first estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q3 2022 reports a decline of 0.7% following a growth of 0.9% in Q2 2022. Compared to pre-pandemic quarter (Q4 2019), the UK economy is 0.4% smaller in Q3 2022.
Services output showed no growth in Q3 2022. Positive contributions from education and finance and insurance subsector were offset by large declines in human health and social work activities, and wholesale and retail trade and other service activities.
Production activity fell by 1.5% in Q3 2022. The decline was mostly driven by basic metal and metal product manufacturers and chemical and chemical product manufacturers.
Construction output increased 0.6% in Q3 2022 reflecting increases in new work orders.
Source: Office for National Statistics
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