(13 Feb 2025, 16:09)

Economic Buzz: Uk economy expands 0.90% in 2024

The UK economy expanded in the fourth quarter, underpinned by services and construction output, the Office for National Statistics said on Thursday. Gross domestic product rose 0.1 percent from the third quarter following nil growth in the third quarter. The services sector expanded 0.2 percent and construction output grew 0.5 percent in the fourth quarter. Partially offsetting these gains, industrial production dropped 0.8 percent. On a yearly basis, the fourth quarter growth in GDP came in at 1.4 percent compared to 1.0 percent in the third quarter. Real annual GDP in 2024 was estimated to have increased 0.9 percent, following growth of 0.4 percent in 2023.

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Economic Buzz: Uk economy expands 0.90% in 2024