Britain's quarterly economic growth was confirmed at 0.6 percent in the three months to September 2018, the strongest expansion since the last quarter of 2016 and following a 0.4 percent advance in the previous period. Household spending and exports were the main drivers of growth while business investment has fallen for three consecutive quarters, which has not been seen since the global financial crisis, in part due to Brexit-related economic and political uncertainty. 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.
GDP Growth Rate in the United Kingdom is expected to be 0.10 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 0.40 in 12 months time. In the long-term, the United Kingdom GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.