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

The UK economy expanded 0.3 percent on quarter in the three months to June of 2017, unrevised from the second estimate of GDP and following an upwardly revised 0.3 percent expansion in the previous period. Fixed investment was the main driver of growth while household expenditure rose at a slower pace. From the production side, the services industries were the only positive contributor to output GDP growth. Year-on-year, the economy expanded 1.5 percent, the slowest pace in four years, following a 1.8 percent advance in the first three months of the year and below an earlier estimate of 1.7 percent. 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
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




UK Q2 GDP Growth Confirmed at 0.3%


The UK economy expanded 0.3 percent on quarter in the three months to June of 2017, unrevised from the second estimate of GDP and following an upwardly revised 0.3 percent expansion in the previous period. Fixed investment was the main driver of growth while household expenditure rose at a slower pace. From the production side, the services industries were the only positive contributor to output GDP growth.

From the expenditure side, the positive contribution to GDP came from net trade (0.4 percentage points), gross fixed capital formation (0.1 percentage points) and household final consumption expenditure (0.1 percentage points); while business investment and government spending had no contribution to growth.

Exports of goods and services jumped 1.7 percent after falling 0.3 percent in the previous period, while imports rose at a slower 0.2 percent, following a 1 percent gain in Q1. As a result, the trade deficit narrowed to £9.2 billion from £11.3 billion in Q1. 

Gross fixed capital formation grew by 0.6 percent (0.5 percent in Q1), with business investment rising 0.5 percent (0.8 percent in Q1). Meanwhile, household expenditure advanced by only 0.2 percent, the lowest quarter-on-quarter growth since Q4 2014, after rising by 0.4 percent in the previous period. The slowdown was driven by a decline in growth in household expenditure on transport (-2.7 percent), including motor cars. Government spending edged up 0.1 percent (0.2 percent in Q1).

From the production side, the services industries were the only positive contributor to output GDP growth, at 0.3 percentage points.

The services industries increased by 0.4 percent following a 0.1 percent gain in Q1. The largest contribution came from distribution, hotels and restaurants (0.9 percent from -0.8 percent in Q1) with retail trade except of motor vehicles and motor cycles providing most of this increase. Also, upward contribution came from: Transport, storage and communications (1.2 percent from -0.8 percent); business services and finances (0.1 percent from 0.6 percent); and government and other services (0.3 percent from 0.4 percent). Industrial output contracted by 0.3 percent (0.3 percent in Q1): The greatest decrease was in water supply and sewerage (-1 percent from 2 percent); manufacturing, the largest component of production (-0.3 percent from 0.6 percent); and electricity, gas, steam and air conditioning supply (-0.3 percent from -4.1 percent). These decreases were moderated by an increase in mining and quarrying (0.6 percent from 2.9 percent). Construction output shrank by 0.5 percent, following a 1.9 percent gain the previous period.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/29/2017 9:07:54 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-26 08:30 AM GDP Growth Rate QoQ Prel 0.3% 0.2% 0.3% 0.4%
2017-08-24 08:30 AM GDP Growth Rate QoQ 2nd Est 0.3% 0.2% 0.3% 0.3%
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 0.3% 0.3%
2017-11-28 09:30 AM GDP Growth Rate QoQ 2nd Est 0.3% 0.3%
2017-12-22 09:30 AM GDP Growth Rate QoQ Final 0.3% 0.3%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.30 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.50 1.80 9.70 -5.90 percent [+]
GDP 2618.89 2861.09 3063.01 72.33 USD Billion [+]
GDP Constant Prices 486914.00 485509.00 486914.00 109967.00 GBP Million [+]
Gross National Product 495902.00 493691.00 495902.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 81183.00 80715.00 81183.00 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 3116.00 3105.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 26503.00 26862.00 26862.00 20035.00 GBP Million [+]
GDP From Manufacturing 41480.00 41712.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 7450.00 7422.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18905.00 18931.00 22274.00 18888.00 GBP Million [+]
GDP From Services 339153.00 337301.00 339153.00 171542.00 GBP Million [+]
GDP From Transport 18244.00 18203.00 18739.00 9402.00 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 October of 2017.

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




gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.10 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
Netherlands 1.50 Jun/17
India 1.40 Jun/17
Canada 1.10 Jun/17
Russia 1.08 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 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
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17