ONS Monthly GDP April 2024

Key trends

UK GDP increased by 0.6% in Q1 2024, contrasting declines in the preceding two quarters and confirming the UK exited its technical recession. This
Monthly GDP showed growth of 0.4% in March, following increases in February (0.2%) and January (0.3%).
Services expanded by 0.7%, marking the first growth since Q1 2023, driven by a 3.7% surge in transport and storage.
Professional, scientific, and technical activities grew by 1.3%, largely fuelled by legal and research sectors.
Consumer-facing services rebounded by 0.6%, primarily led by retail trade.
The production sector saw a 0.8% rise, with manufacturing up by 1.4%, notably in transport equipment.
Construction output fell by 0.9%, attributed to a decline in private commercial new work.
Household consumption increased by 0.2%, with notable growth in housing, recreation, restaurants, and household goods.
Real GDP per head rose by 0.4% in Q1 2024 after seven quarters without positive growth, yet remained 0.7% lower than the same period last year.