Britain's gross domestic product was flat in the fourth quarter of 2019, following an upwardly revised 0.5 percent expansion in the previous three-month period and matching market expectations, a preliminary estimate showed. Household spending rose at the weakest rate in four years, while government spending increased the most since the first quarter of 2012. Net trade also contributed positively to growth, while fixed capital formation contracted 1.6 percent driven by declines in investment in information and communication technology (ICT) equipment, dwellings, transport, and intellectual property products. On the production side, services and construction output rose, while production output declined.

GDP Growth Rate in the United Kingdom averaged 0.60 percent from 1955 until 2019, 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. 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. source: Office for National Statistics

GDP Growth Rate in the United Kingdom is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in the United Kingdom to stand at 0.50 in 12 months time. In the long-term, the United Kingdom GDP Growth Rate is projected to trend around 0.40 percent in 2021 and 0.60 percent in 2022, according to our econometric models.


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United Kingdom GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.50 5.00 -2.70 1955 - 2019 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 08:30 AM QoQ Final Q2 -0.2% 0.6% -0.2% -0.2%
2019-11-11 09:30 AM QoQ Prel Q3 0.3% -0.2% 0.4% 0.4%
2019-12-20 09:30 AM QoQ Final Q3 0.4% -0.2% 0.3% 0.3%
2020-02-11 09:30 AM QoQ Prel Q4 0% 0.5% 0% 0.0%
2020-03-31 08:30 AM QoQ Final Q4 0.5% 0.0% 0.0%
2020-05-12 08:30 AM QoQ Prel Q1 0.3%
2020-06-30 08:30 AM QoQ Final Q1 0.3%
2020-08-10 08:30 AM QoQ Prel Q2 0.5%


News Stream
UK Economy Stalls in Q4
Britain's gross domestic product was flat in the fourth quarter of 2019, following an upwardly revised 0.5 percent expansion in the previous three-month period and matching market expectations, a preliminary estimate showed. Household spending rose at the weakest rate in four years, while government spending increased the most since the first quarter of 2012. Net trade also contributed positively to growth, while fixed capital formation contracted 1.6 percent driven by declines in investment in information and communication technology (ICT) equipment, dwellings, transport, and intellectual property products. On the production side, services and construction output rose, while production output declined.
2020-02-11
UK Q3 GDP Growth Revised Higher
Britain's quarterly economic growth was revised slightly higher to 0.4 percent in the third quarter of 2019, from a preliminary estimate of 0.3 percent, as net trade made a larger positive contribution than previously estimated. The expansion was also supported by household consumption, while gross capital formation and government expenditure contributed negatively to GDP growth.
2019-12-20
UK Economy Rebounds in Q3
Britain's economy grew 0.3 percent in the third quarter of 2019, recovering from a 0.2 percent contraction in the previous three-month period and missing market expectations of a 0.4 percent expansion, a preliminary estimate showed. Year-on-year, the economy grew 1 percent, the weakest pace of expansion since the first quarter of 2010.
2019-11-11
UK GDP Contraction Confirmed in Q2
UK gross domestic product fell 0.2 percent in the second quarter of 2019, unrevised from the previous estimate and compared to the previous period's figure of 0.6 percent. Gross capital formation contracted sharply, while private consumption, government spending and net trade contributed positively to GDP growth. On the production side, industrial output fell the most since the fourth quarter of 2012.
2019-09-30

United Kingdom GDP Growth Rate
The services sector is the most important and account for 79 percent of United Kingdom's 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.