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March 28, 2025UK GDP Q4 2024 AND ANNUAL (REVISED ESTIMATE) 
The Office for National Statistics (ONS) released revised estimates of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q4 2024 and reported an increase of 0.4%. The quarterly gain follows no growth in the third quarter of 2024.
Output in construction grew while production fell in the fourth quarter of 2024. Services output grew, with 7 out of 14 subsectors increasing in the fourth quarter. The largest gain was in the human health and social work activities while the largest decline was in administrative and support service activities and education. Production output is estimated to have fallen 0.4% on a decline in manufacturing and mining and quarrying. Manufacturing output fell 0.6%, with 7 of 13 manufacturing subsectors reporting a decline in the fourth quarter. The largest declines among manufacturing subsectors were in transport equipment and basic metals/metal products. Construction output increased in the fourth quarter. New work was up 1.0%, with the largest contributor within new work being private new housing construction.
On an annual basis, real GDP is estimated to have increased by 1.1% in 2024 following a 0.4% growth in 2023.
Source: Office of National Statistics