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UK Annual Growth Slows to 1.0% in Q4
The UK economy expanded by 1.0% year-on-year in the fourth quarter of 2025, slowing from 1.2% in the previous quarter and slightly undershooting market expectations of 1.2%, according to preliminary estimates. It marked the weakest annual growth rate since the second quarter of 2024. The softer reading capped a challenging year for the economy, which grappled with significant tax increases, trade tensions linked to US President Donald Trump’s policies, and a major cyberattack on the country’s largest car manufacturer. Business and consumer confidence also remained subdued toward year-end ahead of Chancellor of the Exchequer Rachel Reeves’ November 26 budget. Both the services and production sectors grew by 1.0% in Q4, while construction posted a modest 0.2% increase. For 2025 as a whole, the economy expanded by 1.3%, slightly above the 1.1% growth recorded in 2024.
Published on 2026-02-12

UK GDP Annual Growth Rate Unrevised at 1.3%
The UK economy expanded 1.3% year-on-year in Q3 2025, slightly down from 1.4% in Q2, confirming preliminary estimates. This marks the slowest annual growth in a year, as household consumption slowed to 0.7% (vs 1% in Q2) and government spending eased to 1.6% (vs 1.9%). Gross fixed capital formation also grew more slowly, rising 2.9% versus 3.3% in Q2, with business investment up 2.7% from 3.2% previously. Net trade weighed on growth, with imports surging 5% (vs 2%) and exports rising 2.7% (vs 2.3%). On the production side, services growth eased slightly to 1.4% (vs 1.5%), production fell 0.2% (vs a 0.2% decline in Q2), while construction growth picked up to 2.2% (vs 2%).
Published on 2025-12-22

UK GDP Annual Growth Rate Unrevised at 1.3%
The UK economy expanded 1.3% year-on-year in Q3 2025, slightly down from 1.4% in Q2, confirming preliminary estimates. This marks the slowest annual growth in a year, as household consumption slowed to 0.7% (from 1% in Q2) and government spending eased to 1.6% (from 1.9%). Gross fixed capital formation also grew more slowly, rising 2.9% versus 3.3% in Q2, with business investment up 2.7% from 3.2% previously. Net trade weighed on growth, with imports surging 5% (vs 2%) and exports rising 2.7% (vs 2.3%). On the production side, services growth eased slightly to 1.4% (from 1.5%), production fell 0.2% (vs a 0.2% decline in Q2), while construction growth picked up to 2.2% (from 2%).
Published on 2025-12-22

UK GDP Annual Growth Slows to 1.3% in Q3
The UK economy expanded 1.3% year-on-year in Q3 2025, down from 1.4% in Q2 and slightly below the market forecast of 1.4%, according to preliminary estimates. Fixed investment accelerated to 3.8% (vs. 2.9%), despite a slowdown in business investment to 0.7% (vs. 3.0%). Household consumption rose 0.7% (vs. 1.1%), and government spending slowed to 1.9% (vs. 2.1%). Net trade weighed on growth as imports surged 4.7% while exports increased only 2.6%. By sector, services growth held at 1.6%, construction eased to 1.5% (vs. 1.9%), and production continued to contract, declining 0.9% (vs. -0.4%).
Published on 2025-11-13

UK GDP Annual Growth Rate Revised Higher in Q2
The British economy grew 1.4% year-on-year in Q2 2025, revised higher from 1.2% in the initial estimate and compared to an upwardly revised 1.7% rise in Q1. Household spending grew 1.1%, the same as in the first estimate and compared to a downwardly revised 0.8% in Q1. Government expenditure increased at a faster-than-expected 2.1% (vs 1.7% initially set) and compared to an upwardly revised 2.1% in Q1. Also, exports were revised up (3.7% vs 3%), following a 4.6% jump in Q1 and import growth slowed more than initially anticipated (2.2% vs 3.3%), following a downwardly revised 7.4% in Q1. Meanwhile, growth in gross fixed capital formation slowed less than expected (2.9% vs 1.3%), and was revised down for Q1 (2.9% vs 3.5%). Business investment went up 3%, compared to a flat reading in the initial estimate and 5.8% in Q1.
Published on 2025-09-30

UK GDP Annual Growth Rate at 1.2% in Q2
The British economy grew 1.2% year-on-year in Q2 2025, easing slightly from 1.3% in Q1 but beating forecasts of 1%, according to preliminary estimates. Household spending rose 1.1% (up from 0.9%), government expenditure increased 1.7% (from 1.5%), exports rebounded 3% (vs -0.5%), and import growth slowed to 3.3% (from 7.5%). In contrast, growth in gross fixed capital formation decelerated sharply to 1.3% (from 3.5%), while business investment almost stalled at 0.1% (from 6.1%). On the production side, services expanded 1.2%, just below Q1’s 1.4%, and production output rose 0.3% after stagnating in the prior quarter.
Published on 2025-08-14

UK GDP Annual Growth Rate at 1.2% in Q2
The British economy grew 1.2% year-on-year in Q2 2025, easing slightly from 1.3% in Q1 but beating forecasts of 1%, according to preliminary estimates. Household spending rose 1.1% (up from 0.9%), government expenditure increased 1.7% (from 1.5%), exports rebounded 3% (vs -0.5%), and import growth slowed to 3.3% (from 7.5%). In contrast, growth in gross fixed capital formation decelerated sharply to 1.3% (from 3.5%), while business investment almost stalled at 0.1% (from 6.1%). On the production side, services expanded 1.2%, just below Q1’s 1.4%, and production output rose 0.3% after stagnating in the prior quarter.
Published on 2025-08-14

UK GDP Annual Growth Rate Confirmed at 1.3%
The British economy expanded 1.3% year-on-year in the first quarter of 2025, matching the initial estimate and compared to 1.5% in Q4. On the production side, the services sector grew 1.4% and construction went up 1.2% while the production sector stalled. On the expenditure side, household spending rose 0.9% and gross fixed capital formation jumped 3.5%, of which business investment soared 6.1%. Also, government spending increased 1.5% but exports decreased 0.5% and imports jumped 7.5%. Compared to the previous quarter, the GDP in the UK grew 0.7%, the most in a year.
Published on 2025-06-30

UK GDP Grows 1.3% YoY in Q1
The British economy grew by 1.3% year-on-year in the first quarter of 2025, slightly below the 1.5% expansion recorded in the previous quarter, but exceeding market expectations of 1.2%, according to preliminary estimates. The services sector expanded by 1.5%, down from 1.9% in Q4, while construction output rose by 0.9%, matching the previous quarter's growth. In contrast, industrial production continued to decline, though at a slower rate (-0.2% vs -1.1%). On the expenditure side, household spending growth slowed to 0.7% from 1.2%, and government spending also eased to 1.3% from 2.6%. However, gross fixed capital formation accelerated significantly, rising 4.4% compared to 2.2% in Q4, driven largely by an 8.1% surge in business investment (vs 1.8% previously). Exports declined marginally by 0.3% (vs -3.5%), while imports saw a sharp increase of 7.6% (vs 5.0%). On a quarterly basis, GDP grew by 0.7%, the strongest performance in three quarters.
Published on 2025-05-15

UK GDP Annual Growth Rate Revised Higher in Q4
The British economy expanded 1.5% year-on-year in the last quarter of 2024, slightly higher than 1.4% in the initial estimate, and above 1.2% in Q3. It is the strongest annual growth rate in two years. Upward revisions were seen for government spending (2.6% vs 2.1%) fixed investment (2.2% vs 1.7%), due to a 1.8% surge in business investment, compared to initial estimates of a 0.7% decline. On the other hand, household consumption was revised slightly lower (1.2% vs 1.4% in the initial estimate) and both exports (-3.5% vs -4.2%) and imports (5% vs 4.1%) were revised. For the full year 2024, the UK economy expanded by 1.1%, up from 0.9% in the initial estimate and 0.4% in 2023.
Published on 2025-03-28

UK Q4 GDP Annual Growth Strongest in 2 Years
The UK economy grew by 1.4% year-on-year in the fourth quarter of 2024, accelerating from an upwardly revised 1.0% expansion in the previous quarter and surpassing market expectations of 1.1%, a preliminary estimate showed. It was the fastest GDP growth since Q4 2022, driven primarily by increased household consumption (1.4% vs 1.3% in Q3) and a rise in government spending (2.1% vs 0.9%). However, fixed investment growth slowed to 1.7% (vs 3.5% in Q3) due to a 0.7% decline in business investment. Net trade also weighed on GDP, as exports plunged 4.2% while imports rose 4.1%. For the full year 2024, the UK economy expanded by 0.9%, up from 0.4% growth in 2023.
Published on 2025-02-13

UK GDP Annual Growth Rate Revised Lower to 0.9%
The British economy expanded 0.9% year-on-year in Q3 2024, revised down from 1% in the preliminary estimate, but the highest growth since the first quarter of 2023. Government expenditure rose much less than initially anticipated (0.8% vs 1.8% in the preliminary estimate). In contrast, household spending (1.5% vs 1.2%) and gross fixed capital formation (3.9% vs 3.6%) of which business investment (5.8% vs 4.5%) grew at a faster pace. In addition, exports contracted less than in the preliminary estimate (-0.5% vs -1.3%) and imports rose less (2.8% vs 4.3%).
Published on 2024-12-23

UK GDP Annual Growth Rate Strongest Since 2022
The GDP in the UK expanded 1% year-on-year in the third quarter of 2024, the strongest growth rate in seven quarters, compared to 0.7% in Q2 and in line with market expectations, preliminary estimates showed. Household spending rose 1.2%, compared to a flat reading in Q2; and gross fixed capital formation grew faster (3.6% vs 0.7%) of which business investment (4.5% vs 0.2%). Government expenditure also remained robust (1.8% vs 2.1%), while exports contracted (-1.3% vs -2.9%) and imports rose at a faster pace (4.3% vs 3.3%).
Published on 2024-11-15

UK GDP Annual Growth Rate Revised Down in Q2
The British economy expanded 0.7% year-on-year in the second quarter of 2024, revised lower from 0.9% in the first estimate, but remaining the highest growth rate since Q3 2022. Gross fixed capital formation (0.7% vs 2.8% in the initial estimate), household (0% vs 1.6%) and government (2.1% vs 5.6%) spending expanded less than previously estimated while exports declined more (-2.9% vs -1.1%) and imports rose at a faster pace (3.3% vs 3.1%). Compared to the previous quarter, the economy expanded 0.5%, revised down from 0.6% in the first estimate.
Published on 2024-09-30

UK GDP Grows the Most in Nearly 2 Years
The British economy expanded 0.9% year-on-year in Q2 2024, the biggest annual growth rate since Q3 2022, compared to 0.3% in Q1 and matching market forecasts, preliminary estimates showed. The services sector increased 1.3% (vs 0.4% in Q1) but production declined 0.6%, reversing from a 0.3% rise in Q1, mostly due to manufacturing (-0.5% vs 1.7%). Also, construction lost 1%, extending a 0.4% drop in Q1. On the expenditure side, gross fixed capital formation (2.8% vs 1.8%) expanded faster and household (1.6% vs 2.6%) and government (5.6% vs 7%) spending were also higher while exports continued to decline (-1.1% vs -2.2%) and imports rebounded (3.1% vs -5.1%). Compared to the previous quarter, the economy expanded 0.6%, after a 0.7% rise in Q1 and matching expectations.
Published on 2024-08-15

UK Annual GDP Growth Rate Revised Up to 0.3% in Q1
The British economy 0.3% year-on-year in the first quarter of 2024, slightly higher than 0.2% in the initial estimate, and rebounding from a 0.2% fall in the previous quarter. The services sector rose 0.4%, higher than 0.3% in the preliminary estimate and rebounding from a 0.2% fall in Q4 2023. Production went up less than expected (0.3% vs 0.5%), but recovered from a 0.1% fall. Construction on the other hand, fell 0.4%, extending a 0.6% decline in the previous quarter, but less than -0.7% in the preliminary estimate. On the expenditure side, public spending rose 3.4% (vs 3.7%), but declines were seen for household consumption (-0.2% vs -0.4%), business investment (-1% vs -0.6%), exports (-2.1%) and imports (-3% vs -2.7%). Compared to the previous quarter, the GDP in the UK expanded 0.7%, exiting recession, and better than 0.6% in the first estimate.
Published on 2024-06-28

UK GDP Annual Growth Rate Rebounds
The British economy expanded 0.2% year-on-year in the first three months of 2024, rebounding from a 0.2% drop in the previous period, and beating forecasts of a flat reading, preliminary estimates showed. The services sector rose 0.3%, rebounding from a 0.2% fall and production went up 0.5%, also recovering from a 0.1% fall. Construction on the other hand, fell 0.7%, extending a 0.6% decline in the previous quarter. On the expenditure side, public spending rose 3.7% (vs 2.5% in Q4), but declines were seen for household consumption (-0.4% vs 0.3%), business investment (-0.6% vs 2.8%), exports (-2.1% vs -7.6%) and imports (-2.7% vs -1.5%). Compared to the previous quarter, the GDP in the UK expanded 0.6%, exiting recession.
Published on 2024-05-10

UK GDP Falls 0.2% YoY in Q4
The British economy contracted by 0.2% year-on-year in the fourth quarter of 2023, marking its first period of shrinkage since the 2020-21 recession, primarily driven by high inflation, soaring borrowing costs, and sluggish external demand. Notably, net trade exerted downward pressure on GDP, with exports plunging by 7.6% for a second consecutive quarter of decline, while imports fell by 1.5%, marking the fourth consecutive quarter of decrease. Meanwhile, household consumption saw a slight increase of 0.3% (vs 0.2% in Q3), and fixed investment grew by 0.5% (vs 0.1% in Q3), bolstered by a notable 2.8% surge in business investment. Furthermore, government consumption growth accelerated to 2.5% from 1.9%. Looking at the full year of 2023, the economy expanded by a meager 0.1%. This followed a robust growth rate of 4.3% in 2022, marking the weakest annual growth since the 2009 financial crisis, excluding the pandemic-hit year of 2020.
Published on 2024-03-28

UK GDP Shrinks for 1st Time since 2021 in Annual Terms
The British economy went down 0.2% year-on-year in the fourth quarter of 2023, the first contraction since 2021, following a downwardly revised 0.2% growth in the previous period. It compares to market forecasts of a 0.1% rise, preliminary estimates showed. The services sector went down 0.2%, with distribution, hotels and restaurants (-1.7%) falling the most. Construction was also down 1.3% while industrial output edged up 0.1%, with manufacturing rising 1.6%. For 2023 as a whole, the GDP expanded a meager 0.1%.
Published on 2024-02-15

UK Annual GDP Growth Revised Lower in Q3
The British economy expanded 0.3% year-on-year in the third quarter of 2023, half the initial estimate of 0.6%, and matching the Q2 growth which was also revised down to 0.3% from 0.6%. Household spending increased 0.7%, the same as in the first estimate while business investment (2.3% vs 2.8%) rose less than expected and exports (-6.8% vs -6.6%) and imports (-0.1% vs 0.1%) contracted. On the other hand, public expenditure was revised sharply higher (2.3% vs 2.8%).
Published on 2023-12-22