| Welcome to our round-up of the latest statistics and analysis on the economy. Latest GDP estimates published We've published the latest quarterly Gross Domestic Product (GDP) estimates for October to December 2023. GDP is the standard measure we use to assess the size and health of the economy. Our initial estimate for GDP shows that the UK economy shrank in the fourth quarter of 2023 by 0.3%. In this short video, Head of National Accounts Craig McLaren explains the numbers and what they tell us about the UK economy. Why we revise GDP GDP estimates are revised over time as more data becomes available. This is to accurately reflect changes to economic activity. Learn more about how and why we revise GDP in our new article. New labour market figures out this week On Tuesday we published labour market statistics for February 2024. These showed that: growth in employment has slowed over the past year over the same period, the proportion of people neither working nor looking for work has risen job vacancies fell for the nineteenth consecutive month, though there are signs this trend may now be slowing peoples earnings are growing more slowly than in recent months, but in real terms they remain positive, due to falling inflation Join our Economic Forum Join our monthly Economic Forum if you're interested in the latest economic analysis and statistics. Each month we feature the 'State of the Economy' and provide a stocktake of the latest trends and developments. Our next Economic Forum is on 19 February at 9.30am where you will hear more on the labour market, along with international comparisons of inflation. | 