GDP Monthly Estimate, UK - July 2024 - Zero Growth

11th September 2024

Monthly real gross domestic product (GDP) is estimated to have shown no growth in July 2024, after also showing no growth in June 2024.

Real GDP is estimated to have grown by 0.5% in the three months to July 2024 compared with the three months to April 2024, with widespread growths in the services sector in this period.

Services output grew by 0.1% in July 2024, following a decrease of 0.1% in June 2024, and grew by 0.6% in the three months to July 2024.

Production output decreased by 0.8% in July 2024, following a growth of 0.8% in June 2024, and decreased by 0.1% in the three months to July 2024.

Construction output decreased by 0.4% in July 2024, following a growth of 0.5% in June 2024, but grew by 1.2% in the three months to July 2024, its first positive three-month growth since September 2023.

There are no revisions included in this monthly release in accordance with the National Accounts revision policy; data revisions up to 2022, as announced in our Blue Book 2024: Advanced aggregate estimates release, and any additional updates to data from 2023 onwards, will be published in our monthly GDP release on 11 October 2024.

Monthly GDP
Real gross domestic product (GDP) is estimated to have grown by 0.5% in the three months to July 2024 compared with the three months to April 2024. Services output was the main contributor to the growth in the three months to July, increasing by 0.6%. There was also a 1.2% increase in construction output, while production output decreased by 0.1% over this period.

Monthly real GDP is estimated to have shown no growth in July 2024, after also showing no growth in June 2024.

Read the full ONS report HERE