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

The British economy advanced 0.4 percent on quarter in the three months to September of 2017, unrevised from the preliminary estimate and following a 0.3 percent expansion in the previous period. Household consumption rose at stronger pace, with car purchases recovering somewhat from a low Q2, while business investment growth softened. 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
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UK Q3 GDP Growth Confirmed at 0.4%


The British economy advanced 0.4 percent on quarter in the three months to September of 2017, unrevised from the preliminary estimate and following a 0.3 percent expansion in the previous period. Household consumption rose at stronger pace, with car purchases recovering somewhat from a low Q2, while business investment growth softened.

From the expenditure side, the positive contribution to GDP came from gross capital formation (0.5 percentage points) and household final consumption expenditure (0.4 percentage points); while net trade had a negative contribution of 0.5 percentage points and other components were neutral.

Household expenditure advanced by 0.6 percent, after rising by only 0.2 percent in the previous period, boosted by a modest recovery to expenditure on transport, including motor cars. Government spending expanded by 0.3 percent (0.1 percent in Q2 2017), with healthcare and education being the largest contributor to growth. Gross fixed capital formation grew by 0.2 percent (0.6 percent in Q2), as business investment growth slowed (0.2 percent from 0.5 percent in Q2). Meanwhile, the sectors contributing the most to GFCF growth were both dwellings and intellectual property products.

Imports of goods increased by 1.9 percent (0.4 percent in Q2), driven by non-monetary gold within the unspecified goods component, fuels, and machinery and transport equipment; while those of services fell by 1.5 percent (-0.4 percent in Q2), due to other business services. Exports of goods decreased by 1.8 percent (4 percent in Q2), driven by fuels, specifically oils and chemicals; while exports of services went up by 0.6 percent (-1.1 percent in Q2), boosted by other business services. As a result, the trade deficit widened by £2.536 billion to £11.737 billion, the largest widening since Q3 2016.

From the production side, the services aggregate was the main driver to the growth in GDP, contributing 0.3 percentage points, followed by total production (0.2 percentage points). These positive contributions were offset by a negative 0.1 percentage point contribution from the construction industry while agriculture provided no contribution to growth.

The services industries increased by 0.4 percent, the same pace as in the previous period. The largest contribution came from business services and finance (0.6 percent from 0.1 percent in Q2) with professional, scientific, administration and support providing most of this increase. Also, upward contribution came from both distribution, hotels & restaurants (0.3 percent from 0.9 percent); and government and other services (0.2 percent from 0.3 percent); while transport, storage and communications showed no growth (1.2 percent in Q2). Industrial output increased by 1.1 percent (-0.3 percent in Q2), boosted by all four main categories: Manufacturing (1.1 percent from -0.3 percent); mining and quarrying (2.1 percent from 0.6 percent); electricity, gas, steam and air conditioning supply (1.1 percent from -0.3 percent); and water supply and sewerage (0.7 percent from -1 percent). Construction output shrank by 0.9 percent, following a 0.5 percent contraction the previous period.


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/23/2017 10:06:54 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-09-29 08:30 AM GDP Growth Rate QoQ Final 0.3% 0.3% 0.3% 0.3%
2017-10-25 08:30 AM GDP Growth Rate QoQ Prel 0.4% 0.3% 0.4% 0.3%
2017-11-23 09:30 AM GDP Growth Rate QoQ 2nd Est 0.4% 0.3% 0.3% 0.4%
2017-12-22 09:30 AM GDP Growth Rate QoQ Final 0.3% 0.4% 0.4%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.30 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.50 1.50 9.70 -5.90 percent [+]
GDP 2618.89 2861.09 3063.01 72.33 USD Billion [+]
GDP Constant Prices 488907.00 486914.00 488907.00 109967.00 GBP Million [+]
Gross National Product 495902.00 493691.00 495902.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 81375.00 81183.00 81375.00 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 2645.00 2640.00 2851.00 2041.00 GBP Million [+]
GDP From Construction 27221.00 27478.00 27621.00 19565.00 GBP Million [+]
GDP From Manufacturing 43776.00 43306.00 45025.00 38738.00 GBP Million [+]
GDP From Mining 5148.00 5042.00 11610.00 4478.00 GBP Million [+]
GDP From Public Administration 19608.00 19606.00 22885.00 19467.00 GBP Million [+]
GDP From Services 348562.00 347342.00 348562.00 175893.00 GBP Million [+]
GDP From Transport 18989.00 19087.00 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 November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.30 5.00 -2.70 1955 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
Indonesia 3.18 Sep/17
United States 3.00 Sep/17
Turkey 2.10 Jun/17
China 1.70 Sep/17
India 1.40 Jun/17
South Korea 1.40 Sep/17
Canada 1.10 Jun/17
Russia 1.08 Jun/17
Australia 0.80 Jun/17
Germany 0.80 Sep/17
Spain 0.80 Sep/17
Euro Area 0.60 Sep/17
France 0.50 Sep/17
Italy 0.50 Sep/17
Netherlands 0.40 Sep/17
United Kingdom 0.40 Sep/17
Japan 0.30 Sep/17
Switzerland 0.30 Jun/17
Brazil 0.20 Jun/17
Mexico -0.20 Sep/17