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

The British economy expanded 0.1 percent on quarter in the first three months of 2018, in line with the preliminary estimate and well below 0.4 percent in the previous period. It is the lowest growth rate since a 0.1 percent contraction in Q4 2012 as household spending rose the least in over three years and business investment shrank the most in 2-1/2 years, the second estimate showed. 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
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 GDP Growth Confirmed at 0.1% in Q1

The British economy expanded 0.1 percent on quarter in the first three months of 2018, in line with the preliminary estimate and well below 0.4 percent in the previous period. It is the lowest growth rate since a 0.1 percent contraction in Q4 2012, the second estimate showed.

Household expenditure went up 0.2 percent, below 0.3 percent in each of the previous three quarters. It is the lowest gain since a 0.2 percent drop in Q4 2014. Also, consumption of non-profit institutions fell 1.1 percent after a 0.1 percent drop in Q4. 

Gross fixed capital formation (GFCF) rose at a slower 0.9 percent (1.1 percent in Q4), mainly driven by private dwelling and general government sectors. However, business investment, which makes up the largest proportion of total GFCF, decreased 0.2 percent, the biggest drop since Q3 2015 and following a 0.3 percent gain in Q4. Falls in other buildings and structures, and transport were the reason for the decrease. These falls were partially offset by positive growth from information and communication technology (ICT) equipment and other machinery and equipment, and intellectual property products.

The trade deficit narrowed slightly to GBP 9,228 million in volume terms from GBP 9,375 million in Q4. Total imports decreased by 0.6 percent (+0.4 percent in Q4) and exports shrank 0.5 percent (-0.9 percent in Q4). Decreases in both imports and exports in nominal terms were larger than decreases in volume terms, which may be linked to movements in the sterling exchange rate seen in Q1.

On the other hand, government spending rose 0.5 percent, slightly higher than 0.4 percent in Q4. 

Year-on-year, the economy rose 1.2 percent, below 1.4 percent in Q4 but matching the preliminary estimate. It is the weakest pace of expansion since Q2 2012. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
5/25/2018 9:04:42 AM

Calendar GMT Actual Previous Consensus TEForecast
2018-03-29 08:30 AM GDP Growth Rate QoQ Final 0.4% 0.5% 0.4% 0.4%
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 0.4% 0.1% 0.1%
2018-08-10 08:30 AM GDP Growth Rate QoQ Prel 0.3%
2018-09-28 08:30 AM GDP Growth Rate QoQ Final

United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.10 0.40 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.20 1.40 9.70 -5.90 percent [+]
GDP 2647.90 2885.57 3074.36 72.33 USD Billion [+]
GDP Constant Prices 493271.00 492785.00 493271.00 109967.00 GBP Million [+]
Gross National Product 508627.00 503299.00 508627.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 84919.00 84133.00 84919.00 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 2590.00 2627.00 2851.00 2041.00 GBP Million [+]
GDP From Construction 27109.00 28021.00 28053.00 19565.00 GBP Million [+]
GDP From Manufacturing 44557.00 44457.00 45025.00 38738.00 GBP Million [+]
GDP From Mining 5142.00 4969.00 11610.00 4478.00 GBP Million [+]
GDP From Public Administration 19762.00 19777.00 22885.00 19467.00 GBP Million [+]
GDP From Services 350444.00 349531.00 350444.00 175893.00 GBP Million [+]
GDP From Transport 19154.00 19246.00 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.40 5.00 -2.70 1955 - 2018 percent Quarterly

GDP growth rate by Country
Country Last
United States 2.20 Mar/18
Turkey 2.00 Mar/18
India 1.90 Mar/18
China 1.40 Mar/18
Mexico 1.10 Mar/18
Australia 1.00 Mar/18
South Korea 1.00 Mar/18
Spain 0.70 Mar/18
Switzerland 0.60 Mar/18
Netherlands 0.50 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 0.10 Mar/18
Japan -0.20 Mar/18
Russia -0.38 Dec/17
Indonesia -0.42 Mar/18