United Kingdom Monthly GDP MoM

The British economy unexpectedly contracted 0.1% month-over-month in September 2024, the first decline in five months, following a 0.2% rise in August and well below forecasts of a 0.2% expansion. Production output shrank 0.5%, reversing from a 0.5% gain in August, led by a 1% drop in manufacturing. There were also negative contributions from water supply, sewerage, waste management and remediation activities (-0.7%), and from electricity, gas, steam and air conditioning supply (-1.9%). Also, services output showed no growth, following an increase of 0.1% in August 2024, with the largest negative contribution coming from a 2.6% fall in computer programming, consultancy, and related activities. Construction output grew by 0.1%, following a growth of 0.6% in August, and led by an increase in repair and maintenance (0.4%), while new work fell by 0.2%.