Real UK GDP falls by estimated 0.3% QoQ in Q4 2023, 0.1% MoM in Dec

Monthly GDP is estimated to have fallen by 0.1 per cent in December 2023, following a growth of 0.2 per cent in November (revised down from 0.3 per cent growth) and a fall of 0.5 per cent in October (revised down from a 0.3 per cent fall).

GDP is estimated to have shown no growth year on year in December.

Production output grew by 0.6 per cent month on month (MoM) in December, but it fell by 1 per cent QoQ in Q4 2023. This fall was driven by a 0.9-per cent drop in manufacturing, with 10 out of 13 manufacturing sub-sectors declining over this period.

The monthly growth in production followed a 0.5-per cent growth in November (revised up from a 0.3-per cent growth earlier) and a fall of 1.4 per cent in October (revised down from a fall of 1.3 per cent earlier).

Output GDP was estimated to have an annual growth of 0.4 per cent last year compared with the 2022 figure.

Fibre2Fashion News Desk (DS)