Britain's statistics office said on Thursday that the economy grew slightly faster in 2023 and 2024 than previously thought, making economic output about 0.5% higher in 2024 than it had most recently estimated.
The revisions are part of an annual review of gross domestic product, and reflect improved measurement of the services sector, property rents and the benefit homeowners get from not paying rent, the Office for National Statistics said.
"Incorporating this information into our estimates of GDP, has led us to revise upwards our estimates of services output over a number of years and provides a more complete picture of how different parts of the economy contribute to GDP," said Craig McLaren, the ONS' head of national accounts.
($1 = 0.7336 pounds)
