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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

May 12, 2023
UK GDP Q1 2023

The Office for National Statistics (ONS) preliminary estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q1 2023 reported an increase of 0.5%, the same pace as reported for Q4 2022. Compared to pre-pandemic quarter (Q4 2019), the UK economy is 0.5% smaller in Q1 2023.

Services output was up 0.1% in Q1 2023 (quarterly growth), with positive contributions from administrative and support service activities and information and communications industries. Production activity increased 0.1% (manufacturing +0.5%) while construction output increased 0.7% in Q1 2023. 

Source: Office for National Statistics

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