What is the GDP of the UK in 2022?

14 Jul 2022 By PAYCEC

In the first three months of 2022, the British economy grew by 0.8 percent from quarter to quarter, which was the smallest growth in a year and in accordance with early projections. The main drivers of production output were an increase in manufacturing output, a rise in construction output, and information and communication as well as transport and storage. Additionally, while gross fixed capital formation increased by a revised 3.8 percent, household final consumption expenditure only increased by 0.6 percent. Even still, real household disposable income declined by 0.2 percent, marking the fourth quarter in a row that disposable income actually declined. The GDP is still 0.7 percent higher than it was before the outbreak.