Spotlight
GDP quarterly national accounts, UK: October to December 2023
What's in the bulletin?
- UK gross domestic product (GDP) is estimated to have fallen by an unrevised 0.3% in Quarter 4 (Oct to Dec) 2023, following an unrevised fall of 0.1% in the previous quarter.
- The economy decreased for two consecutive quarters, while GDP for 2023 as a whole is estimated to have increased by an unrevised 0.1% compared with 2022.
- In output terms in Quarter 4 2023 there were falls in all three main sectors with declines of 0.1% in services, 1.1% in production, and 0.9% in construction output.
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Regional economic activity by gross domestic product, UK: 1998 to 2022
What's in the bulletin?
- Real gross domestic product (GDP) for the UK increased by 4.3% in 2022; all International Territorial Level (ITL) 1 regions reported positive growth in 2022, continuing the economic recovery following the coronavirus (COVID-19) pandemic.
- Of the ITL1 regions, London experienced the largest increase in real GDP in 2022 at 4.9%; the smallest increase was seen in the East Midlands at 1.8%.
- At the ITL1 level, London had the highest GDP per head in current market prices at £63,407 in 2022, while the North East had the lowest GDP per head at £26,747.
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Why GDP figures are revised
Learn more about how gross domestic product (GDP) figures are revised over time between the monthly, quarterly and annual estimates.
Time series related to Gross Domestic Product (GDP)
Gross Domestic Product: chained volume measures: Seasonally adjusted £m
Chained Volume Measures (CVM)
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£566,626 m2023 Q4
- Release date:
- 28 March 2024
- Next release:
- 28 June 2024
Gross Domestic Product: Quarter on Quarter growth: CVM SA %
Chained Volume Measures (CVM)
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See AlsoGDP up by 0.3% in both the euro area and the EUG.D.P. Report: U.S. Economy Records Solid Growth (Published 2023)U.S. G.D.P. Report: G.D.P. Report Shows U.S. Economy Shrank Again (Published 2022)U.S. G.D.P. Report: G.D.P. Report Shows the U.S. Economy Shrank, Masking a Broader Recovery (Published 2022)-0.3 %2023 Q4
- Release date:
- 28 March 2024
- Next release:
- 10 May 2024
Gross Domestic Product: q-on-q4 growth rate CVM SA %
Chained Volume Measures (CVM)
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-0.2 %2023 Q4
- Release date:
- 28 March 2024
- Next release:
- 28 June 2024
Gross Domestic Product at market prices: Current price: Seasonally adjusted £m
Current Prices (CP)
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£677,169 m2023 Q4
- Release date:
- 28 March 2024
- Next release:
- 28 June 2024
Gross Domestic Product: quarter on quarter growth rate: CP SA %
Current Prices (CP)
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-0.2 %2023 Q4
- Release date:
- 28 March 2024
- Next release:
- 28 June 2024
Gross Domestic Product: q-on-q4 growth quarter growth: CP SA %
Current Prices (CP)
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4.9 %2023 Q4
- Release date:
- 28 March 2024
- Next release:
- 28 June 2024
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Datasets related to Gross Domestic Product (GDP)
Monthly gross domestic product by gross value added
The gross value added (GVA) tables showing the monthly and annual growths and indices as published within the monthly gross domestic product (GDP) statistical bulletin.
Contributions to monthly GDP
Contributions to growth within monthly gross domestic product (GDP), UK
Revisions triangles for monthly GDP
Comparison of gross domestic product (GDP) first estimates against estimates published later.
Monthly GDP and main sectors to four decimal places
Monthly index values for monthly gross domestic product (GDP) and the main sectors in the UK to four decimal places.
Health volume adjustments and contribution to GDP growth
Volume estimates for the NHS Test and Trace services and vaccine programmes and their impact on real GDP.
GDP output approach, Blue Book 2023 indicative data
Detailed industry level data. Includes monthly low-level aggregates of output gross value added (GVA) on a chained volume measure. Seasonally adjusted.
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Publications related to Gross Domestic Product (GDP)
Statistical bulletins
GDP monthly estimate, UK: February 2024
Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy.
Regional economic activity by gross domestic product, UK: 1998 to 2022
Annual estimates of economic activity by UK country, region and local area using gross domestic product (GDP). Estimates are available in current market prices and in chained volume measures and include a full industry breakdown of balanced regional gross value added (GVA(B)).
GDP quarterly national accounts, UK: October to December 2023
Revised quarterly estimate of gross domestic product (GDP) for the UK. Uses additional data to provide a more precise indication of economic growth than the first estimate.
GDP first quarterly estimate, UK: October to December 2023
First quarterly estimate of gross domestic product (GDP). Contains current and constant price data on the value of goods and services to indicate the economic performance of the UK.
Business investment in the UK: October to December 2023 revised results
Estimates of short-term indicators of investment in non-financial assets; business investment and asset and sector breakdowns of total gross fixed capital formation.
GDP, UK regions and countries: July to September 2022
Quarterly economic activity within the countries of the UK (England, Wales, Scotland and Northern Ireland) and the nine English regions (North East, North West, Yorkshire and The Humber, East Midlands, West Midlands, East of England, London, South East and South West).
View all related statistical bulletins
Articles
Summary of changes to data table structure in Blue Book 2023
Changes to the structure of tables within Blue Book 2023 to meet accessibility standards.
Coronavirus and the impact on output in the UK economy
Analysis of growth for the production, services and construction industries in the UK economy between February 2020 and August 2021, highlighting the impact of the coronavirus (COVID-19) pandemic.
The role of labour costs and profits in UK inflation
Analysis of trends in unit labour costs and unit profits as contributions to domestic inflation using the national accounts and the income approach to GDP.
The 2008 recession 10 years on
A decade after the beginning of the recession, how has the UK economy recovered?
What is GDP?
Find out more how Gross Domestic Product is used to measure the size and health of a country’s economy.
GDP and me
What's GDP go to do with you and me? Find out how your spending and work can affect GDP.
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Methodology related to Gross Domestic Product (GDP)
- Gross and net measures of the UK economy
- Improvements to non-market adult social care output in the National Accounts
- Output approach to gross domestic product (GDP)
- Gross domestic product (GDP) QMI
- Quarterly Acquisitions and Disposals of Capital Assets Survey QMI
- Communicating the UK Economic Cycle
View all related methodology
Explore local statistics
Find, compare and visualise statistics about places within the United Kingdom.
