Gross domestic product (GDP): Economic indicators

Economic indicators are quick-read summaries of the latest data focusing on different aspects of the UK economy. The full suite of indicators can be found on the main Economic Indicators page.

GDP is estimated to have grown by 0.2% in November 2024-January 2025 compared to the previous three-month period (August to October), but to have fallen by 0.1% in January compared to December. This followed growth of 0.4% in December.

The services sector grew by 0.1% in January but production fell by 0.9% and construction fell by 0.2%.

GDP is estimated to have grown by 0.1% in the latest calendar quarter (October-December 2024) compared to the previous three-month period (July to September)

In cash terms, GDP was £2,848 billion in 2024.

GDP growth forecasts

In their October 2024 Economic and fiscal outlook, the Office for Budget Responsibility’s (OBR) GDP growth forecast was 2.0% in 2025 and 1.8% in 2026.

The Treasury’s February 2025 survey of independent forecasts showed an average forecast of 1.0% for 2025 and 1.4% for 2026.

Next updates

This page is updated when new data is published. The next source updates will be:

• ONS, GDP monthly estimate, 11 April 2025

• ONS, GDP first quarterly estimate, 15 May 2025

• ONS, GDP national accounts, 28 March 2025

• HM Treasury, Forecasts for the UK economy, 19 March 2025

• OBR, Economic and fiscal outlook, 26 March 2025