GDP

Latest official estimate confirms that the UK GDP grew in October as the economy bounced back from September when an extra bank holiday for the Queen's ...

This is the fourth consecutive monthly growth and is currently the highest level of construction output (£15.2 billion) since records began in January 2010. The main driver of services growth in October was wholesale and retail trade; repair of motor vehicles and motorcycles, which grew by 1.9% in the month following a fall of 2.0% in September. Manufacturing was the only sub-sector to grow, rising by 0.7% in the month. The second-largest contribution within services came from human health and social work activities, which grew by 1.3% in October 2022 following growth of 0.9% in September 2022. This was driven by a 1.8% rise in human health activities where there was a rise in coronavirus testing and vaccinations because of the autumn booster campaign. Services grew by 0.6% in October, following a fall of 0.8% in September.

Better than expected October GDP figure should not obscure risk of prolonged downturn.

The Bank is predicting a protracted but shallow downturn, but the risks of something more painful are clearly there. There is, as Hunt admitted in his response to the official data, a tough road ahead. Weaker consumer spending and mothballed investment plans are the direct consequence of the sharpest annual price rises in four decades. [certain to increase interest rates again later this week](https://www.theguardian.com/business/2022/dec/11/bank-of-england-set-to-spoil-the-festive-mood-with-another-interest-rate-rise), the outlook is for the economy to contract for at least the rest of the winter, and perhaps beyond. Activity in the health sector also increased as the autumn vaccine booster drive continued. A better guide to the underlying state of the economy is provided by the quarterly data, which showed GDP 0.3% lower in the three months to October compared with the three months ending in July.

Investing.com -- The British economy grew for the first time in four months in October after a September affected by the funeral of Queen Elizabeth II, but ...

Much of October's headline growth figure will be reflecting displaced and delayed economic activity from September, when businesses had shorter opening hours or ...

It’s a rather negative narrative about an economy that experienced 0.5 per cent growth just two months ago — but an acknowledgement that there are far more warning signs in the data than positives. Sectors that did grow, such as consumer-facing services (up 1.2 per cent), were still smaller than the hit they took in September (down 1.7 per cent). That would be the most optimistic reading of this morning’s update from the Office for National Statistics, which released the latest set of monthly GDP data showing 0.5 per cent growth in October. And then there is the economic activity that, while rising, gives us no meaningful indication about the state of the private sector. Meanwhile, the ‘broader picture’ still points to economic contraction, as GDP fell by 0.3 per cent in the three months leading up to October. Much of October’s headline growth figure will be reflecting displaced and delayed economic activity from September, when businesses had shorter opening hours or were closed altogether during the mourning period.

Latest official estimate confirms that the UK GDP grew in October as the economy bounced back from September when an extra bank holiday for the Queen's ...

This is the fourth consecutive monthly growth and is currently the highest level of construction output (£15.2 billion) since records began in January 2010. The main driver of services growth in October was wholesale and retail trade; repair of motor vehicles and motorcycles, which grew by 1.9% in the month following a fall of 2.0% in September. Manufacturing was the only sub-sector to grow, rising by 0.7% in the month. The second-largest contribution within services came from human health and social work activities, which grew by 1.3% in October 2022 following growth of 0.9% in September 2022. This was driven by a 1.8% rise in human health activities where there was a rise in coronavirus testing and vaccinations because of the autumn booster campaign. Services grew by 0.6% in October, following a fall of 0.8% in September.

However, the Office for National Statistics (ONS) said that the economy shrank by 0.3% in the three months to October, compared with the three months to July.

Chancellor Jeremy Hunt warns economy likely to get worse before improving, after UK GDP rose 0.5% in October, but shrank by 0.3% in the August-October ...

Meanwhile, the jobs market is projected to remain tight for months, and thus inflation persistent, until new workers have been trained appropriately to reduce the mismatch between the skills required and those available. The Bank of England’s Monetary Policy Committee is divided on how sharply to rise base rates, but it looks increasingly likely we will be living with another 0.5% increase by the end of this week.” “The economy is no longer teetering on the edge of recession; it is fully in one. “October GDP grew slightly more than expected, at 0.5%, mostly due to an improvement in retail sales. Demand is set to be weak, as high energy prices persist and winter has really just begun. “This tentative rebound from sharply falling GDP in September may look like a positive step back toward growth, but we should not get over-excited.

Greater Phoenix GDP More Than Doubles National Post-Pandemic Economic Growth, https://www.phoenix.gov/newsroom/ced/2595, Community and Economic Development ...

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Most of Colorado's counties had their GDP grow from 2020 to 2021 even in the face of the COVID pandemic's economic interruptions.

UNCTAD Handbook of Statistics 2022 paints bleak picture for developing countries with food and energy prices soaring - Anadolu Agency.

[Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. The report shows that trade in both goods and services will slow down. Africa has the highest dependency ratio at 72%. Global dependency rates also increased among the population. The handbook is a global reference for trade and development trends which is published yearly. In 2021, it stood at 0.87%.

Expansion in real global GDP is going to fall from 5.7 percent last year to 3.3 percent this year, an additional UN report stated on Monday, indicati.

[MENAFN](https://menafn.com) provides the information “as is” without warranty of any kind. If you have any complaints or copyright issues related to this article, kindly contact the provider above. The handbook is a worldwide reference for exchange and development trends which is issued once a year.

Shaky monthly indicators cannot capture the human picture: real wages are down and life is becoming more difficult.

While wages including bonuses rose 6 per cent between July and September, real wages factor in the way in which the buying power of those wages is eroded by inflation, which was 11.1 per cent in the year to October. Real wage growth has that advantage over GDP growth – particularly the shaky month-on-month figure. Another way to measure the economy is to move away from growth altogether, and look instead at the health of the labour market, the figures for which are released by the ONS today. According to the ONS, real wages including bonuses fell 2.6 per cent in the three months to September. [growth](https://www.newstatesman.com/tag/growth) figures released yesterday morning (12 December) could have been mistaken for a Christmas miracle: gross domestic product (GDP) [rose 0.5 per cent month-on-month in October](https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/october2022), the Office for National Statistics (ONS) said, following a fall of 0.6 per cent in September. If month-on-month GDP growth is such an unreliable indicator, what should we use to assess the health of the economy?

After shrinking by 0.3 percent in the second quarter, the G20's GDP rebounded 1.3 percent quarter on quarter in the third quarter of this year, ...

Despite the recovery in the G20 area as a whole, Japan, the UK and Türkiye recorded slight contractions from July to September. China and the U.S. The U.S.

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 ...

Moreover, the construction sector rose by 0.8% in October, compared to an increase of 0.4% in September. The production sector remained flat in October, following a growth of 0.2% in September. The services sector edged up by 0.6% last October, compared to a 0.8% decline in September.

Download the entire news release (PDF 120KB) 13 Dec 2022 – Gross domestic product (GDP) in the G20 area grew by 1.3% quarter-on-quarter in the third.

Following revisions to the historical series, Q2 2022 GDP was estimated at 0.2% below its Q4 2019 level, and Q3 2022 GDP was estimated at 0.4% below this level.] [Methodological note](#)(PDF) The Q3 2022 GDP growth figure for the OECD remains the same as in the ] [OECD GDP growth release](#) published on 21 November 2022. China’s nominal GDP represented 22.8% of G20 GDP in 2020 (see Annex table 1 in the ] [methodological note](#)). GDP growth lost momentum in Q3 2022 in the eight remaining G20 economies for which data is available, slowing the most in relative terms in Brazil (0.4%, compared with 1.0% in the previous quarter), Italy (0.5%, compared with 1.1%), Korea (0.3%, compared with 0.7%) and France (0.2%, compared with 0.5%). By contrast, in the OECD area GDP growth remained weak in Q3 2022 at 0.4%. [[2]](#) as some of the country’s strictest COVID-19 lockdowns began to be eased.

Responding to the latest UK GDP figures, released by the Office for National Statistics today (Monday 12 December 2022), Suren Thiru, Economics Director at ...

“The positive start to the fourth quarter may not prevent recession with the growing squeeze on incomes likely to drive falls in GDP in November and December, despite a possible boost to consumer activity from the World Cup. “A half-point interest rate rise on Thursday is expected. “October’s rebound is a false dawn for the economy as it mostly reflects the favourable comparison with September when activity was supressed by the Bank Holiday for the Queen’s funeral.

Economic growth in the G20 perked up in the third quarter, the Organization for Economic Cooperation and Development (OECD) reports.

was the only G20 country that had not yet recovered its pre-pandemic level. This followed a 0.3% decline in the second quarter. “Together, China and the U.S.