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February 10, 2023UK GDP Q4 AND ANNUAL 2022 (FIRST ESTIMATE) 
The Office for National Statistics (ONS)' first estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q4 2022 reported an increase of 0.1% following a decline of 0.7% in Q3 2022. Compared to pre-pandemic quarter (Q4 2019), the UK economy is 0.8% smaller in Q4 2022.
Services output showed no growth in Q4 2022. Positive contributions from administrative and support service activities, particularly travel agents subsector were largely offset by declines in education and transportation and storage output.
Production activity fell by 0.2% in Q4 2022. The decline was mostly driven by electricity, gas, steam and air conditioning supply and mining and quarrying.
Construction output increased 0.3% in Q4 2022 reflecting increase in infrastructure.
The Office for National Statistics notes that UK economic growth increased 4.0% in 2022, following a 7.6% increase in 2021. Services output grew 5.5% and production activity declined 3.6% in 2022 compared with 2021.
Source: Office for National Statistics
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