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

November 10, 2023

The Office for National Statistics (ONS) released the first estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q3 2023 and reported a decrease of 0.1%, down from 0.8% growth in the previous quarter. Compared to the pre-pandemic quarter (Q4 2019), the UK economy is 1.8% larger in Q3 2023.

Services output fell in Q3 2023, led by decreases in real estate activities and broad-based declines in transportation and storage. The largest positive contribution to services growth came from professional, scientific and technical services, and arts, entertainment and recreation. There was no growth in production output in Q3 2023, with increases in manufacturing, mining, and electricity, gas, steam and air conditioning supply offset by declines in water supply, and waste management/remediation. Construction output rose on greater repair and maintenance, which was partially offset by reductions in new projects.

Source: Office for National Statistics

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