United Kingdom GDP Growth Rate 1955-2018 | Data | Chart | Calendar

The British economy grew by 0.4 percent on quarter in the three months to December of 2017, below the preliminary estimate of 0.5 percent and following an upwardly revised 0.5 percent expansion in the previous period. Production output rose less than initially thought. On the expenditure side, there was a slowdown in growth of household spending and business investment. GDP Growth Rate in the United Kingdom averaged 0.60 percent from 1955 until 2017, reaching an all time high of 5 percent in the first quarter of 1973 and a record low of -2.70 percent in the first quarter of 1974.

United Kingdom GDP Growth Rate
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




UK Q4 GDP Growth Revised Down to 0.4%


The British economy grew by 0.4 percent on quarter in the three months to December of 2017, below the preliminary estimate of 0.5 percent and following an upwardly revised 0.5 percent expansion in the previous period. Production output rose less than initially thought. On the expenditure side, there was a slowdown in growth of household spending and business investment.

From the expenditure side, the largest contribution to growth was from gross capital formation at 0.6 percentage points, followed by household spending at 0.2 percentage points and general government at 0.1 percentage points. Meanwhile, net trade had a negative contribution of 0.5 percentage points.

Gross fixed capital formation grew by 1.1 percent (vs 0.7 percent in Q3), with the general government and private dwelling sectors contributing the most to the increase, while business investment showed no growth (vs 0.9 percent in Q3). Household expenditure advanced by 0.3 percent, following a 0.4 percent rise in Q3, and government spending expanded by 0.6 percent, after being unchanged in the previous period. The largest contributor to this increase in government expenditure was healthcare, followed by spending on public administration and education.

Imports of goods and services went up by 1.5 percent (vs 1 percent in Q3), due in part to large increases in the price of fuels that were imported, while exports decreased by 0.2 percent (vs 0.2 percent in Q3), as sales of fuels fell. As a result, the trade deficit widened by £2.576 billion from the previous period to £12.237 billion.

From the production side, the services aggregate was the main driver of growth, contributing 0.4 percentage points, followed by total production (0.1 percentage points).

The services industries increased by 0.6 percent, faster than 0.4 percent in the previous period. Positive growth was recorded within three of the four sub-sectors of the services industries: transport, storage and communications (1.1 percent vs 0.3 percent in Q3); business services and finance (0.9 percent vs 0.7 percent); and government and other services (0.2 percent vs -0.1 percent). By contrast, distribution, hotels and restaurants contracted by 0.2 percent, after a 0.5 percent growth in Q3. Industrial output increased by 0.5 percent (vs 1.4 percent in Q3), boosted by manufacturing (1.3 percent vs 1.4 percent) while activity in other sub-sectors declined: mining and quarrying (-4.7 percent vs 2.6 percent); electricity, gas, steam and air conditioning supply (-0.5 percent vs 1.7 percent). Water supply and sewerage was unchanged from the previous three-month period (vs -0.4 percent in Q3). Construction output shrank for the third consecutive quarter by 0.7 percent in the fourth quarter (vs -0.3 percent in Q3).



ONS | Joana Ferreira |
2/22/2018 10:10:02 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-22 09:30 AM GDP Growth Rate QoQ Final 0.4% 0.3% 0.4% 0.4%
2018-01-26 09:30 AM GDP Growth Rate QoQ Prel 0.5% 0.4% 0.5% 0.5%
2018-02-22 09:30 AM GDP Growth Rate QoQ 2nd Est 0.4% 0.5% 0.5% 0.5%
2018-03-29 08:30 AM GDP Growth Rate QoQ Final 0.5% 0.4% 0.4%
2018-04-27 08:30 AM GDP Growth Rate QoQ Prel 0.50%
2018-05-25 08:30 AM GDP Growth Rate QoQ 2nd Est


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.50 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.40 1.80 9.70 -5.90 percent [+]
GDP 2647.90 2885.57 3074.36 72.33 USD Billion [+]
GDP Constant Prices 492674.00 490743.00 492674.00 109967.00 GBP Million [+]
Gross National Product 498854.00 493706.00 498854.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 84005.00 83100.00 84005.00 13824.00 GBP Million [+]
GDP per capita 41602.98 41183.93 41602.98 13869.06 USD [+]
GDP per capita PPP 38901.05 38509.21 38901.05 26388.08 USD [+]
GDP From Agriculture 2619.00 2641.00 2851.00 2041.00 GBP Million [+]
GDP From Construction 27628.00 27831.00 28038.00 19565.00 GBP Million [+]
GDP From Manufacturing 44678.00 44109.00 45025.00 38738.00 GBP Million [+]
GDP From Mining 5010.00 5254.00 11610.00 4478.00 GBP Million [+]
GDP From Public Administration 19775.00 19780.00 22885.00 19467.00 GBP Million [+]
GDP From Services 350445.00 348528.00 350445.00 175893.00 GBP Million [+]
GDP From Transport 19400.00 19157.00 19553.00 9851.00 GBP Million [+]


United Kingdom GDP Growth Rate

The Services sector is the most important and accounts for 79 percent to total GDP. The biggest segments within Services are: government, education and health (19 percent of total GDP); real estate (12 percent); professional, scientific and technical activities and administrative and support services (12 percent); wholesale and retail trade (11 percent); and financial and insurance (8 percent). Industry accounts for 21 percent of the GDP and the largest segments within this sector are: manufacturing (10 percent of total GDP) and construction (6 percent). The Agriculture sector accounts for only 1 percent of GDP. Composition of the GDP on the expenditure side: household consumption (65 percent), government expenditure (20 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 28 percent of GDP while imports account for 30 percent, subtracting 2 percent from GDP. This page provides the latest reported value for - United Kingdom GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.50 5.00 -2.70 1955 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
United States 2.60 Dec/17
China 1.60 Dec/17
India 1.60 Sep/17
Turkey 1.20 Sep/17
Russia 1.08 Jun/17
Mexico 0.80 Dec/17
Netherlands 0.80 Dec/17
Spain 0.70 Dec/17
Australia 0.60 Sep/17
Euro Area 0.60 Dec/17
France 0.60 Dec/17
Germany 0.60 Dec/17
Switzerland 0.60 Sep/17
Canada 0.40 Sep/17
United Kingdom 0.40 Dec/17
Italy 0.30 Dec/17
Brazil 0.10 Sep/17
Japan 0.10 Dec/17
South Korea -0.20 Dec/17
Indonesia -1.70 Dec/17


Related

Latest