GDP Quarterly National Accounts, UK: July To September 2024 - Revised Down

23rd December 2024

UK real gross domestic product (GDP) is estimated to have shown no growth in Quarter 3 (July to Sept) 2024, revised down from the first estimate increase of 0.1%.

The quarterly path of real GDP at an aggregate level is unchanged from Quarter 1 (Jan to Mar) 2023 to Quarter 1 2024, however, there have been downward revisions of 0.1 percentage points in Quarter 2 (Apr to June) and Quarter 3 2024.

Within the output approach to measuring GDP, there was no growth in the services sector in the latest quarter, whilst a 0.7% increase in construction was offset by a 0.4% fall in production.

Early estimates show that real GDP per head fell by 0.2% in Quarter 3 2024, and is 0.2% lower compared with the same quarter a year ago.

Early estimates of real households' disposable income per head show no growth in Quarter 3 2024, following growth of 1.4% in the previous quarter.

The household saving ratio is estimated at 10.1% in the latest quarter, down from 10.3% in Quarter 2 2024.

Trad the full ONS report HERE