United Kingdom Monthly GDP MoM

The British economy contracted 0.1% month-over-month in January 2025, following a 0.4% growth in December 2024, and worse than market expectations of a 0.1% gain. The largest downward contribution came from the production sector which fell 0.9%, after a 0.5% rise in the previous period. Manufacturing shrank 1.1% led by basic metals and metal products (-3.3%) and the manufacture of basic pharmaceutical products and pharmaceutical preparations (-3.1%). Mining and quarrying also contributed negatively with a 3.3% fall, largely because of a 3.7% contraction in extraction of crude petroleum and natural gas. Construction also declined 0.2%, following a similar fall in December. Services on the other hand, expanded 0.1%, after a 0.4% rise in the previous period, led by administrative and support services (1.9%) and wholesale and retail trade (0.7%). Considering the three months to January, the GDP in the UK grew 0.2%.