United Kingdom Monthly GDP MoM

The British economy expanded 0.3% month-over-month in January of 2023, partially bouncing back from a 0.5% contraction in December when strikes halted activity and beating market forecasts of a 0.1% rise. The services sector grew by 0.5%, rebounding from a 0.8% fall in December, and was the main driver of growth, led by education (2.5%), as school attendance levels returned to normal levels; transport and storage (1.6%); human health activities (0.7%), and arts, entertainment and recreation activities (3.4%), in a month where Premier League football returned to a full schedule. Output in consumer-facing services grew by 0.3% after a fall of 1.2%. On the other hand, production output fell by 0.3%, following growth of 0.3% in December, led by a 0.4% drop in manufacturing, namely basic pharmaceutical products and pharmaceutical preparations (-4.7%). Construction was also down (-1.7%). Considering the three months to January, the GDP was flat.