United Kingdom GDP Growth Rate  1955-2018 | Data | Chart | Calendar

The British economy grew by 0.2 percent on quarter in the three months to March 2018, slightly above the second estimate of 0.1 percent and following a 0.4 percent expansion in the previous period. Net trade contribution to GDP growth was revised higher. On the production side of the accounts, construction output fell less than initially thought. GDP Growth Rate in the United Kingdom averaged 0.60 percent from 1955 until 2018, 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 Q1 GDP Growth Revised Higher to 0.2%


The British economy grew by 0.2 percent on quarter in the three months to March 2018, slightly above the second estimate of 0.1 percent and following a 0.4 percent expansion in the previous period.

From the expenditure side, the largest contribution to growth was from household spending at 0.2 percentage points, followed by net trade at 0.1 percentage points and general government at 0.1 percentage points.

Household expenditure advanced by 0.2 percent in the first quarter, unrevised from the second estimate and after a 0.3 percent rise in Q4; and government spending expanded by 0.4 percent, compared with 0.5 percent previously estimated and following a 0.4 percent growth in the previous period. In addition, net trade contributed positively to GDP growth, as imports dropped 0.2 percent (vs -0.2 percent in Q4) and exports were unchanged (vs 1 percent in Q4).

Gross fixed capital formation, however, dropped 1.3 percent in the first quarter, compared with the second estimate of 0.9 percent growth and following a 0.8 percent advance in Q4. Business investment, which makes up the largest proportion of total GFCF, shrank 0.4 percent, compared with a 0.2 percent fall previously estimated and following a 0.2 percent growth in the previous period.

From the production side, the services industries made the largest contribution to GDP growth, followed by production. Agriculture, the smallest component within the output approach of GDP made no contribution to growth to one decimal place, while construction deducted from GDP growth.

The services industries increased by 0.3 percent, slower than 0.4 percent in the previous period. Positive growth was recorded within all sub-sectors of the services industries: distribution, hotels and restaurants (0.1 percent vs -0.1 percent); transport, storage and communications (0.1 percent vs 1.4 percent); business services and finance (0.6 percent vs 0.8 percent); and government and other services (0.3 percent vs -0.2 percent). Industrial output increased by 0.4 percent (vs 0.7 percent in Q4), boosted by mining and quarrying (2.5 percent vs -4.8 percent); electricity, gas, steam and air conditioning supply (1.4 percent vs -0.1 percent); and water supply and sewerage (1.7 percent vs 1.2 percent). By contrast, manufacturing fell 0.1 percent (vs 1.4 percent in Q4). Construction output shrank by 0.8 percent, revised upwards from negative 2.7 percent in the second estimate of GDP and after a 0.3 percent growth in the previous period.



ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/29/2018 9:41:15 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-04-27 08:30 AM GDP Growth Rate QoQ Prel 0.1% 0.4% 0.3% 0.4%
2018-05-25 08:30 AM GDP Growth Rate QoQ 2nd Est 0.1% 0.4% 0.1% 0.1%
2018-06-29 08:30 AM GDP Growth Rate QoQ Final 0.2% 0.4% 0.1% 0.1%
2018-08-10 08:30 AM GDP Growth Rate QoQ Prel 0.2% 0.4%
2018-09-28 08:30 AM GDP Growth Rate QoQ Final 0.2%
2018-11-09 09:30 AM GDP Growth Rate QoQ Prel 0.5%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.40 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.20 1.30 9.70 -6.10 percent [+]
GDP 2622.43 2650.85 3074.36 72.33 USD Billion [+]
GDP Constant Prices 504195.00 503014.00 504195.00 111480.00 GBP Million [+]
Gross National Product 511762.00 505883.00 511762.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 85609.00 86778.00 86778.00 13572.00 GBP Million [+]
GDP per capita 42514.49 42039.74 42514.49 13827.45 USD [+]
GDP per capita PPP 39753.24 39309.33 39753.24 26454.41 USD [+]
GDP From Agriculture 2910.00 2955.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 27948.00 28185.00 28185.00 19264.00 GBP Million [+]
GDP From Manufacturing 45786.00 45813.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4577.00 4467.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20710.00 20715.00 24234.00 20573.00 GBP Million [+]
GDP From Services 358521.00 357484.00 358521.00 178666.00 GBP Million [+]
GDP From Transport 19103.00 19355.00 19874.00 10071.00 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.40 5.00 -2.70 1955 - 2018 percent Quarterly




GDP growth rate by Country
Country Last
Turkey 2.00 Mar/18
United States 2.00 Mar/18
India 1.90 Mar/18
China 1.80 Jun/18
Mexico 1.10 Mar/18
Australia 1.00 Mar/18
South Korea 1.00 Mar/18
Russia 0.85 Mar/18
Spain 0.70 Mar/18
Netherlands 0.60 Mar/18
Switzerland 0.60 Mar/18
Brazil 0.40 Mar/18
Euro Area 0.40 Mar/18
Canada 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
France 0.20 Mar/18
United Kingdom 0.20 Mar/18
Japan -0.20 Mar/18
Indonesia -0.42 Mar/18


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