The British economy shrank 0.3% month-over-month in April of 2022, following a 0.1% contraction in March and missing market expectations of a 0.1% expansion. Services fell by 0.3%, reflecting a 5.6% decrease in human health and social work, where there was a significant reduction in NHS Test and Trace activity. Production fell by 0.6%, driven by a fall in manufacturing of 1.0% on the month, as businesses continue to report the impact of price increases and supply chain shortages. Construction also fell by 0.4%, following strong growth in March when there was significant repair and maintenance activity following the storms experienced in the latter half of February 2022. GDP is now 0.9% above its pre-coronavirus level in February 2020. The British economy grew by 0.2% in the three months to April 2022, with construction contributing 0.2 percentage points, while services and production were broadly flat. source: Office for National Statistics
Monthly GDP MoM in the United Kingdom averaged 0.16 percent from 1997 until 2022, reaching an all time high of 9.50 percent in June of 2020 and a record low of -18.90 percent in April of 2020. This page includes a chart with historical data for the United Kingdom Monthly GDP MoM. United Kingdom Monthly GDP MoM - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Monthly GDP MoM in the United Kingdom is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Monthly GDP MoM is projected to trend around 0.40 percent in 2023 and 0.30 percent in 2024, according to our econometric models.