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March 31, 2023UK GDP Q4 AND ANNUAL 2022 (REVISED ESTIMATE) 
The Office for National Statistics (ONS)' revised estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q4 2022 reported an increase of 0.5% following a decline of 0.4% in Q3 2022. Compared to pre-pandemic quarter (Q4 2019), the UK economy is 0.6% smaller in Q4 2022, revised upwards from the previous estimate of 0.8% below.
Services output was up 0.1% 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 showed no change in Q4 2022.
Construction output increased 1.3% in Q4 2022 reflecting increase in infrastructure.
The Office for National Statistics notes that UK economic growth increased 4.1% in 2022, following a 7.6% increase in 2021. Services output grew 5.5% and production activity declined 2.8% in 2022 compared with 2021.
Source: Office for National Statistics
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