Support for farmers with the cost of living
A Westminster Hall debate has been scheduled for 2.30 pm on Tuesday 12 July 2022 to consider support for farmers with the cost of living. The debate will be opened by Alicia Kearns MP.
Documents to download
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Gross Domestic Product (GDP): Key Economic Indicators (69 KB , PDF)
GDP grew by 0.2% in February-April 2022 compared to the previous three-month period (November-January) but fell by 0.3% in April compared to March. This followed a fall of 0.1% in March. April GDP was 0.9% above pre-pandemic levels in February 2020.
Each of the main sectors contributed negatively to April’s fall. The services sector fell by 0.3%, production fell by 0.6% and construction fell by 0.4%.
In the latest calendar quarter (January-March 2022), GDP grew by 0.8% compared to the previous quarter. This was unrevised from the initial estimate in the quarterly national accounts.
In cash terms, GDP was £2,317 billion in 2021.
Forecasts
In their March 2022 Economic and fiscal outlook, the Office for Budget Responsibility’s (OBR) forecast was 3.8% in 2022 and 1.8% in 2023.
The Treasury’s June 2022 survey of independent forecasts showed an average forecast of 3.6% for 2022 and 0.9% for 2023.
Documents to download
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Gross Domestic Product (GDP): Key Economic Indicators (69 KB , PDF)
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Service industries: Key Economic Indicators
Service industries: Data for the sector that incorporates the retail sector, the financial sector, the public sector, business administration and cultural activities.
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Spending of the office of the Secretary of State for Wales on measures to support the Welsh economy, and its consequences for funding the devolved institutions
An Estimates Day debate spending of the office of the Secretary of State for Wales on measures to support the Welsh economy, and its consequences for funding the devolved institutions will take place in the House of Commons Chamber on Tuesday 5 July 2022.
