For the three months to January, GDP is estimated to have fallen by 0.1% compared to the previous three-month period. This indicates a slight increase in growth relative to the unrevised 0.6% decrease in Q4 of 2023.

The services sector, accounting for around three-quarters of the economy, grew by 0.5% in January. Production sector output is estimated to have grown by 0.4%. The largest contribution came from growth in professional, scientific and technical services output.