UK economy grew at end of 2024 as GDP rose 0.1% – what it means for your money

UK economy grew at end of 2024 as GDP rose 0.1% – what it means for your money
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UK economy grew at end of 2024 as GDP rose 0.1% – what it means for your money
Author: James Flanders
Published: Feb, 13 2025 07:09

Summary at a Glance

However, today's figures also show that economic activity in the third quarter is unrevised, meaning growth there was no growth in the period between July and September.

The latest figures from the Office for National Statistics (ONS) reveal Gross Domestic Product (GDP) rose marginally between October and December.

GDP increased largely due to the services sector, which rose by 0.2% in the final quarter.

Chancellor Rachel Reeves vowed not to accept an "economy that has failed working people".

She said in a statement: "For too long, politicians have accepted an economy that has failed working people.

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