UK economy shows little growth in Q4 after trending down through 2024
Graeme Paterson
13-Feb-2025
LONDON (ICIS)–The UK economy showed little growth in the fourth quarter of 2024 with GDP rising just 0.1% after trending down throughout the year.
Services sector output grew by 0.2% in Q4, construction was up 0.5% while production fell by 0.8%, the Office for National Statistics (ONS) said on Thursday.
Economic growth tailed off through 2024 with GDP growing 0.8% in Q1, 0.4% in Q2 and 0.0% in Q3.
The Bank of England cut interest rates again last week as it tries to balance low growth against relatively high inflation.
The eurozone’s economy also struggled in Q4 with GDP flat at 0.0% growth from the previous quarter.
Global News + ICIS Chemical Business (ICB)
See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.
Contact us
Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.
Contact us to learn how we can support you as you transact today and plan for tomorrow.
READ MORE
