UK’s GDP rises 0.5% in October

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The services sector edged up by 0.6% last October, compared to a 0.8% decline in September

Staff Writer, Arab Finance

December 13, 2022

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The UK’s gross domestic product (GDP) rose by 0.5% in October 2022, following a 0.6% slip in September, according to the GDP monthly estimates issued by the Office for National Statistics (ONS) on December 12th.

The services sector edged up by 0.6% last October, compared to a 0.8% decline in September.

Meanwhile, output in consumer-facing services rose by 1.2% in October, versus a 1.7% drop in September.

The production sector remained flat in October, following a growth of 0.2% in September.

Moreover, the construction sector rose by 0.8% in October, compared to an increase of 0.4% in September.

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