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August 15, 2024UK GDP Q2 2024 (FIRST ESTIMATE) 
The Office for National Statistics (ONS) released the first estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q2 2024 and reported an increase of 2.3%. The quarterly gain follows an increase of 2.9% in the first quarter of 2024.
Output in services grew while construction and production fell in the second quarter of 2024. Services output rose with widespread growth across the sector, with 11 out of 14 subsectors increasing in the second quarter. The largest gain was in the professional, scientific and technical activities subsector. Production output is estimated to have fallen 0.1% on a decline in manufacturing, with 9 of 13 manufacturing subsectors reporting a loss in the second quarter. The largest decline among manufacturing subsectors was in transport equipment. Construction output declined due to a decline in new work, partially offset by increased activity in repair and maintenance.
Source: Office for National Statistics
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