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

The British economy grew by 0.4 percent on quarter in the three months to June 2018, following a 0.2 percent expansion in the previous period and matching market expectations, a preliminary estimate showed. Household consumption rose further and fixed investment rebounded firmly, while net trade subtracted from growth. 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 Economy Expands 0.4% in Q2


The British economy grew by 0.4 percent on quarter in the three months to June 2018, following a 0.2 percent expansion in the previous period and matching market expectations, a preliminary estimate showed. Household consumption rose further and fixed investment rebounded firmly, while net trade subtracted from growth.

Household consumption growth picked up to 0.3 percent in the second quarter from 0.2 percent in the previous three-month period; and gross fixed capital formation increased 0.8 percent, rebounding from a 1.3 percent contraction in Q1, driven by rises in business investment (0.5 percent vs -0.4 percent in Q1) and private dwelling investment (1.1 percent vs 1.5 percent). Also, government spending advanced 0.4 percent, the same pace as in the previous period.

Imports of goods and services dropped 0.8 percent (vs -0.2 percent in Q1) and exports slumped 3.6 percent (vs flat reading in Q1). As a result, the trade deficit widened sharply to £7.244 billion from £3.174 billion in the previous period.

From the production side, services output grew 0.5 percent in the second quarter (vs 0.3 percent in Q1). This marked the strongest quarterly growth in services since the last quarter of 2016, mainly driven by wholesale and retail trade (1.6 percent vs unchanged), transport storage and communication (1.3 percent vs 0.1 percent), other services (1.2 percent vs 0.6 percent) and real estate (0.3 percent vs 0.1 percent). Also, construction activity rebounded firmly (0.9 percent vs -0.8 percent). By contrast, industrial production shrank 0.8 percent in the second quarter (vs 0.4 percent in Q1) due to declines in manufacturing (-0.9 percent vs -0.1 percent) and electricity, gas, steam and air conditioning supply (-2.7 percent vs 1.4 percent); while output rose for mining and quarrying (0.7 percent vs 2.5 percent) and water supply, sewerage, waste management and remediation activities (1.9 percent vs 1.7 percent).


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/10/2018 9:33:32 AM



Calendar GMT Actual Previous Consensus TEForecast
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 0.4% 0.2% 0.1% 0.4%
2018-09-28 08:30 AM GDP Growth Rate QoQ Final 0.2% 0.4% 0.4%
2018-11-09 09:30 AM GDP Growth Rate QoQ Prel 0.5%
2018-12-21 09:30 AM GDP Growth Rate QoQ Final


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.20 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.30 1.20 9.70 -6.10 percent [+]
GDP 2622.43 2650.85 3074.36 72.33 USD Billion [+]
GDP Constant Prices 506029.00 504195.00 506029.00 111480.00 GBP Million [+]
Gross National Product 511762.00 505883.00 511762.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 86324.00 85609.00 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 2909.00 2910.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 28198.00 27948.00 28198.00 19264.00 GBP Million [+]
GDP From Manufacturing 45358.00 45786.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4607.00 4577.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20674.00 20710.00 24234.00 20573.00 GBP Million [+]
GDP From Services 360420.00 358521.00 360420.00 178666.00 GBP Million [+]
GDP From Transport 19323.00 19103.00 19874.00 10071.00 GBP Million [+]


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. 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 September of 2018.

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




GDP growth rate by Country
Country Last
Indonesia 4.21 Jun/18
United States 4.20 Jun/18
India 1.90 Mar/18
China 1.80 Jun/18
Australia 0.90 Jun/18
Turkey 0.90 Jun/18
Russia 0.85 Mar/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
Singapore 0.60 Jun/18
South Korea 0.60 Jun/18
Spain 0.60 Jun/18
Germany 0.50 Jun/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Brazil 0.20 Jun/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Saudi Arabia -0.05 Mar/18
Mexico -0.20 Jun/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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