UK Economy bounces back in January
GDP grew by 0.5% in January 2019 and by 0.2% in the three months to January 2019

The UK economy bounced back in January with GDP rising by 0.5%, offsetting the -0.4% decline in December.

The latest figures from the Office for National Statistics show UK GDP grew by 0.2% in the three months to January 2019, with the services sector being the main driver of growth.

Production grew 0.6% in January, with Construction bouncing back with an impressive 2.8% growth, following December’s fall. Manufacturing also grew by 0.8% in January, again, reversing December’s negative growth.

Breakdown of GDP growth rates by month

November 2018December 2018January 2019
GDP0.2%-0.4%0.5%
Index of Services0.3%-0.2%0.3%
Index of Production-0.3%-0.5%0.6%
Manufacturing-0.1%-0.7%0.8%
Construction0.1%-2.8%2.8%
Agriculture0.5%0.4%-1.3%