Gdp Monthly Estimate, UK - December 2022

10th February 2023

Monthly real gross domestic product (GDP) is estimated to have fallen by 0.5% in December 2022, following an unrevised growth of 0.1% in November 2022.

Looking at the broader picture, GDP was flat in the three months to December 2022, and annual GDP output is estimated to have grown by 4.1% in 2022, following growth of 7.4% in 2021.

The services sector fell by 0.8% in December 2022, after unrevised growth of 0.2% in November 2022; the largest contributions to this fall came from human health activities, education, arts, entertainment and recreation activities, and transport and storage.

Output in consumer-facing services fell by 1.2% in December 2022, following growth of 0.4% in November 2022 (revised up from 0.2%).

Production output grew by 0.3% in December 2022, following growth of 0.1% (revised up from a 0.2% fall) in November 2022. The main contributor to this growth was electricity, gas, steam and air conditioning supply.

The construction sector was flat in December 2022 after a fall of 0.5% (revised down from being flat) in November 2022.

Monthly GDP
Monthly real gross domestic product (GDP) is estimated to have fallen by 0.5% in December 2022 (Figure 1) following unrevised growth of 0.1% in November 2022. Monthly GDP is now estimated to be 0.5% below its pre-coronavirus (COVID-19) levels (February 2020). Annual GDP output is estimated to have grown by 4.1% in 2022, following growth of 7.4% in 2021.

Manufacturing remained flat in the month. There were falls in the manufacture of food products, beverages and tobacco (down 1.0%), manufacture of chemicals and chemical products (down 1.6%), other manufacturing and repair (down 0.9%) and the manufacture of wood and paper products, and printing (down 1.0%). Manufacturing saw falls in 8 of its 13 subsectors, however they were fully offset by the growth seen in the other 5 (Figure 7).

Manufacture of basic pharmaceutical products and pharmaceutical preparations was the largest positive contributor (up 2.0%). There were also growths in the manufacture of rubber and plastics products, and other non-metallic mineral products (up 1.4%) and the manufacture of machinery and equipment not elsewhere classified (n.e.c.) (up 1.6%).

Read the full ONS report HERE