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- UK GDP was flat in the three months to January 2020
UK GDP was flat in the three months to January 2020
According to the report from Office for National Statistics, GDP remained level in the three months to January 2020, following no growth in Quarter 4 (Oct to Dec) 2019. A notable fall in production in the three months to January 2020 was offset by positive contributions from services and construction. The production sector fell by 1.0% in the three months to January 2020, driven by widespread falls in the manufacturing industry. Elsewhere in production, mining and quarrying performed poorly in the three months to January, falling by 2.9%. Monthly growth for production was negative 0.1% in January 2020, with energy production acting as the main drag on growth.
Commenting on today's GDP figures for the three months to January, Head of GDP Rob Kent-Smith said: "The economy continued to show no growth overall in the latest three months. Growth in construction, driven by housebuilding, offset yet another decline in manufacturing, particularly the drinks, cars and machinery industries. The dominant services sector also showed no growth in the latest three months with falls in retail and telecoms balanced by strength in rentals, employment and education."
Office for National Statistics also reported that gross domestic product (GDP) showed no growth in January 2020, with growth in services offset by falls in production and construction.
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