UK GDP grows by 0.6% in Q1

Growth follows two quarterly declines in second half of 2023

Cristian Angeloni
clock • 2 min read
Chancellor Jeremy Hunt said today’s reading is proof the UK economy 'is returning to full health'
Image:

Chancellor Jeremy Hunt said today’s reading is proof the UK economy 'is returning to full health'

UK gross domestic product (GDP) is estimated to have increased by 0.6% in the first three month of 2024, following two quarterly declines in the second half of 2023, according to the Office for National Statistics (ONS).

Compared to Q1 2023, GDP has increased by 0.2% in the same period this year, according to ONS data published today (10 May). Both services and the production sector grew over the three-month per...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Industry placing increased importance on sustainability in decision making, SPP finds

Industry placing increased importance on sustainability in decision making, SPP finds

Firm’s survey found 88% said Sustainability Principles Charter would be factor in selection of bulk annuity provider

Holly Roach
clock 24 April 2025 • 1 min read
Industry praises government's launch of small pensions pot consolidator

Industry praises government's launch of small pensions pot consolidator

Sector welcomes step to ‘solve the problem’ of small pots noting consolidator model could be ‘real gamechanger’

Holly Roach
clock 24 April 2025 • 5 min read
TPR: Industry must combine regulation and innovation to boost outcomes

TPR: Industry must combine regulation and innovation to boost outcomes

TPR says regulation is ‘prerequisite’ to support innovation in the industry

Martin Richmond
clock 24 April 2025 • 3 min read
Trustpilot