United Kingdom GDP Growth Rate  1955-2017 | Data | Chart | Calendar

The British economy advanced 0.3 percent on quarter in the three months to June 2017, in line with market expectations and following a 0.2 percent expansion in the previous period, a preliminary estimate showed. The growth was driven by services mainly boosted by retail trade and film production and distribution, while construction and manufacturing contracted. GDP Growth Rate in the United Kingdom averaged 0.61 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
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UK Economy Grows 0.3% in Q2


The British economy advanced 0.3 percent on quarter in the three months to June 2017, in line with market expectations and following a 0.2 percent expansion in the previous period, a preliminary estimate showed. The growth was driven by services mainly boosted by retail trade and film production and distribution, while construction and manufacturing contracted.

The services aggregate was the main driver to the growth in GDP, contributing 0.42 percentage points. Production and construction recorded falls in the second quarter of 0.4 percent and 0.9 percent respectively, each contributing negative 0.06 percentage points to GDP. Agriculture recorded moderate growth of 0.6 percent, contributing nothing to GDP due to the low industry weight.

Services grew by 0.5 percent, compared with an expansion of 0.1 percent in Q1 2017. The main contributor to growth was the distribution, hotels and restaurants sector, which increased by 1.1 percent (-0.6 percent in Q1), boosted by retail trade, except of motor vehicles, and food and beverage service activities. Transport, storage and communications sector, which grew by 1 percent (-0.8 percent in Q1), driven by motion picture activities, which grew by 8.2 percent. Business services and finance grew by 0.4 percent (0.5 percent in Q1), with office administrative activities being the main contributor to the growth. Government and other services grew by 0.2 percent (0.4 percent in Q1), with human health activities and education being significant contributors, reflecting their large weights within GDP.

Within production (-0.4 percent from 0.1 percent in Q1), manufacturing contracted by 0.5 percent (0.3 percent in Q1), due mainly to a large fall in the manufacture of motor vehicles. In addition, mining and quarrying shrank by 0.9 percent (1.5 percent in Q1) and water supply, sewerage, waste management and remediation activities decreased by 0.4 percent (1 percent in Q1). However, these negative growths were partially offset by a 0.3 percent increase in electricity, gas, steam and air conditioning supply (-4.2 percent in Q1).

Construction output was estimated to have fell by 0.9 percent after expanding 1.1 percent during Q1.

Agriculture output was estimated to have increased by 0.6 percent, following growth of 0.1 percent in Q1. Agriculture is the smallest of the main industrial groups with a weight of less than 1 percent in the output measure of GDP.

Compared with the same quarter of 2016, the economy grew 1.7 percent, also in line with market expectations and easing from a 2 percent advance in the previous period.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/26/2017 8:50:29 AM



Calendar GMT Actual Previous Consensus Forecast (i)
2017-05-25 08:30 AM Q1 0.2% 0.7% 0.3% 0.3%
2017-06-30 08:30 AM Q1 0.2% 0.7% 0.2% 0.2%
2017-07-26 08:30 AM Q2 0.3% 0.2% 0.3% 0.4%
2017-08-24 08:30 AM Q2 0.2% 0.3% 0.3%
2017-09-29 08:30 AM Q2 0.2% 0.3%
2017-10-25 08:30 AM Q3 0.3%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.20 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.70 2.00 9.80 -6.10 percent [+]
GDP 2618.89 2861.09 3063.01 72.33 USD Billion [+]
GDP Constant Prices 472939.00 471524.00 472939.00 107263.00 GBP Million [+]
Gross National Product 494149.00 492534.00 494149.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 78855.00 78054.00 80420.00 13405.00 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 3123.00 3110.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 26611.00 26637.00 26637.00 20035.00 GBP Million [+]
GDP From Manufacturing 41517.00 41736.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 7357.00 7444.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18896.00 18925.00 22274.00 18888.00 GBP Million [+]
GDP From Services 339098.00 337630.00 339098.00 171542.00 GBP Million [+]
GDP From Transport 18219.00 18292.00 18739.00 9402.00 GBP Million [+]


United Kingdom GDP Growth Rate Notes

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 August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.20 5.00 -2.70 1955 - 2017 percent Quarterly



gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 2.60 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Turkey 1.40 Mar/17
Brazil 1.00 Mar/17
Japan 1.00 Jun/17
Canada 0.90 Mar/17
Spain 0.90 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Australia 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.30 Jun/17
Russia -0.57 Sep/15