Preliminary estimates from the Office for National Statistics in Britain showed that the UK’s gross domestic product rose by 0.4% in December, better than expectations that it would remain stable at the November reading of 0.1%, revised from 0.2%, mainly supported by growth in the services sector.
With this reading, the UK economy is expected to grow by 0.1% in the fourth quarter of last year after stopping growth in the third quarter.
The services sector, which makes up more than 70% of the British economy, recorded growth of 0.4% in December, compared to 0.2% in November, and recorded a rise of 0.2% in the fourth quarter of last year, while the construction sector recorded growth of 0.5% and production fell by 0.5% in the last quarter.
21/02/2025
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