GDP Monthly Estimate: September 2024

The industry which made the biggest contributions to overall GDP growth in September was Professional, Scientific & Technical Services, which contributed 0.3 percentage points of growth to headline GDP. The largest contributor to monthly contraction was Electricity & Gas Supply, the output of which tends to be volatile month to month.

In September, output in the services sector is estimated to have grown by 0.6%, while Production sector output fell by 1.5% in September. Construction sector output grew by 0.1% in September.

As reported by the Office for National Statistics, there were some common themes that were anecdotally reported (as part of the Monthly Business Survey (MBS) for production and services) to have played a part in performance across different industries. However, it is difficult to quantify the exact impact.

At a UK level, there was widespread strength in the production of many of the products used in the construction process in the three months to September 2024. The manufacture of cement, plaster, concrete, wood, rubber, plastic, glass, paint and other mining and quarrying materials all saw increases in this period. This supports the strength seen in new work in the construction sector in the three months to September 2024, compared with the three months to June 2024.