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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

December 23, 2024
UK GDP Q3 2024 (FINAL ESTIMATE)

The Office for National Statistics (ONS) released the final estimate of UK Gross Domestic Product (seasonally adjusted annualized rate) for Q3 2024 and reported an increase of 0.1%. The quarterly gain follows an increase of 1.4% in the second quarter of 2024.

Output in construction grew while production fell, and services remained unchanged in the third quarter of 2024. Services output remained unchanged, with 6 out of 14 subsectors increasing in the third quarter. The largest gain was in the wholesale and retail trade while the largest decline was in financial and insurance activities. Production output is estimated to have fallen 0.4% on a decline in electricity, gas, steam and air conditioning supply. Manufacturing output fell 0.1%, with 4 of 13 manufacturing subsectors reporting a decline in the third quarter. The largest declines among manufacturing subsectors were in machinery/equipment and transport equipment. Construction output increased in the third quarter following three consecutive quarterly declines. New work was up 1.6%, with the largest contributor within new work being infrastructure.

Source: Office for National Statistics



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