October’s estimated GDP is 0.1%, while in September it estimated to have fallen by 0.1%, following a 0.2% growth In august.
The fall has been largely attributed to a fall in production output.
- B&C Awards 2024: The Video
- Inflation rise leaves industry unshaken but could 'shatter hopes for a second cut' in September
- April GDP flatline attributed to wet weather despite three-month rise
Despite the monthly decline, GDP is estimated to have grown by 0.1% in the three months to October 2024, compared with the three months to July of the same year.
According to the ONS, the main reason for the growth over the three-month period has been services output — throughout the same time period construction output has also increased, despite a 0.4% fall in October.
Leave a comment