United Kingdom Monthly GDP MoMDecember 2022 Data - 1997-2021 Historical

The British economy expanded 0.1% in November from October of 2022, easing from a 0.5% growth in the previous period but beating market forecasts of a 0.2% decline. Output in consumer-facing services was up 0.4% (vs 1.5% in October), led by food and beverage service activities in a month where the FIFA World Cup started. The services sector as a whole grew by 0.2%, after growth of 0.7% in October, with the largest contributions coming from administrative and support service activities and information and communication. Meanwhile, production output decreased by 0.2%, after a fall of 0.1% in October. Manufacturing was the main driver of the decline, partially offset by a positive contribution from mining and quarrying. The construction sector was flat (vs 0.8% in October). Considering the three months to November, the UK GDP fell 0.3%. The economy is now estimated to be 0.3% below its pre-coronavirus levels in February of 2020.

The British economy expanded 0.5% in October from September of 2022, the biggest increase in nearly a year and above forecasts of 0.4%. It follows a 0.6% contraction in September, when an additional bank holiday for the funeral of Queen Elizabeth lowered the output. The services sector grew 0.6%, after falling by 0.8% in September, with the largest contribution coming from wholesale and retail trade and repair of motor vehicles and motorcycles. Output in consumer-facing services grew by 1.2%, after a fall of 1.7% in September. Production remained broadly flat after rising 0.2%; manufacturing was the only sub-sector to contribute positively to production, offset by negative contributions from electricity, gas, steam and air conditioning supply, and water supply, sewerage, waste management and remediation activities. Construction grew by 0.8%, its fourth consecutive increase. Considering the three months to October, the GDP shrank 0.3% but the economy is 0.4% above its pre-covid levels.

The British economy contracted by 0.6% month-over-month in September of 2022, following a downwardly revised 0.1% decline in August, and worse than market forecasts of a 0.4% fall. It marks a second consecutive month of falling economic activity and probably the beginning of a long recession while the additional bank holiday for the Queen's funeral also weighed, as many businesses closed or operated differently on that day. The services sector went down 0.8%, led by a 3.2% fall in information and communication activity, and a 2% drop in wholesale and retail trade, and repair of motor vehicles and motorcycles. Also, output in consumer-facing services fell by 1.7%. On the other hand, industrial production edged 0.2% higher, prompted by a 1.5% jump in electricity, gas, steam and air conditioning supply. Also, construction grew 0.4%.