UK real GDP grows by estimated 0.4% MoM, 0.7% YoY in Mar 2024: ONS

10 May '24

1 min read

UK real GDP grows by estimated 0.4% MoM, 0.7% YoY in Mar 2024: ONS

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Insights

Monthly UK real GDP is estimated to have grown by 0.4 per cent in March, following growth of 0.2 per cent in February and an unrevised 0.3-per cent growth in January, official data show.
Real GDP is estimated to have grown by 0.6 per cent in the Q1 2024 compared with Q4 2023.
Production output grew by 0.2 per cent in March and by 0.8 per cent in Q1 2024.

Monthly UK real gross domestic product (GDP) is estimated to have grown by 0.4 per cent in March this year, following growth of 0.2 per cent (revised) in February and an unrevised growth of 0.3 per cent in January, according to the Office of National Statistics (ONS).

Real GDP is estimated to have grown by 0.6 per cent in the first quarter (Q1) this year compared with the preceding quarter.

On a quarterly basis, this gives growth of 0.6 per cent in Q1 2024, following declines of 0.3 per cent in Q4 2023 and 0.1 per cent in Q3 last year.

Production output grew by 0.2 per cent in March this year, following growth of 1 per cent in February 2024—revised down from 1.1 per cent in the previous ONS forecast. It grew by 0.8 per cent in Q1 2024.

GDP is estimated to have grown by 0.7 per cent year on year (YoY) in March this year and by 0.2 per cent YoY in Q1 2024.

ALCHEMPro News Desk (DS)

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