UK GDP grows by 0.2 per cent in Quarter 4 of 2018

The ONS has published its latest GDP data, showing that the UK GDP grew by 0.2 per cent in the fourth Quarter of 2018.

Overall, the yearly GDP growth was 1.4 per cent, the lowest since 2012.

Growth in the services sector was 0.4 per cent in Quarter 4, while production industries contracted by 1.1 per cent and construction contracted by 0.3 per cent.

All four sub-sectors within the production sector contracted, making it the first time since Quarter 1 in 2009 that all four sub-sectors contracted.

These growths mean that the services sector was the only positive contributor to GDP growth in Quarter 4, while the other two sectors have negative contributions.

Rob Kent-Smith, Head of GDP for the ONS, said: “GDP slowed in the last three months of the year with the manufacturing of cars and steel products seeing steep falls and constructing also declining. However, services continued to grow with the health sector, management consultants and IT all doing well.”

“Declines were seen across the economy in December, but single month data can be volatile meaning quarterly figures often give a better indication of the health of the economy.”