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.