GDP Monthly Estimate UK - February 2023

13th April 2023

Monthly real gross domestic product (GDP) is estimated to have shown no growth in February 2023, where falls in services and production were offset by growth in construction. This follows growth of 0.4% in January, revised up from growth of 0.3% in the previous publication.

Looking at the broader picture, GDP grew by 0.1% in the three months to February 2023.

The services sector fell by 0.1% in February 2023, after growing by 0.7% in January 2023, revised up from 0.5% in the previous publication.

The largest contributions to the fall in services output in February 2023 came from education and public administration and defence; compulsory social security, industrial action took place in both of these industries in February 2023.

Output in consumer-facing services grew by 0.4% in February 2023, this follows growth of 0.3% in January 2023 (unrevised from our previous publication); the largest contributor to this growth came from retail trade, except for motor vehicles and motorcycles.

Production output fell by 0.2% in February 2023, following a fall of 0.5% in January 2023, revised from a fall of 0.3% in the previous publication.

The construction sector grew by 2.4% in February 2023, after falling by 1.7% in January 2023 (unrevised from the previous publication).

Note
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