The UK's gross domestic product grew by 0.6% in the first quarter of 2024 compared to the previous quarter, according to estimates from the Office for National Statistics.
The positive data came after a 0.3% decline in the fourth quarter and a 0.1% decline in the third quarter, meaning that the country has thus emerged from what is called a technical recession.
Compared to the same quarter of the previous year, expectations indicate that UK GDP grew by 0.2% in the first three months of the year.
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Growth in the last quarter was driven by a 0.7% increase in services output. During the first quarter, preliminary estimates indicate that 13 of the 20 subsectors grew, compared with 6 subsectors that increased in the previous quarter.
The manufacturing sector is estimated to have grown by 0.8% in the fourth quarter, following a 1.1% decline in the fourth quarter of 2023. This reflects a 0.5% decline in January 2024, followed by growth of 1.0% and 0.2% in February and March, respectively.
The construction sector fell by 0.9% in the first quarter of 2024, after a 0.9% decline in the previous quarter. The level of construction output in the first quarter of 2024 was 0.7% lower than in the same quarter of the previous year.
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.