United Kingdom GDP Annual Growth Rate  1956-2018 | Data | Chart | Calendar

The gross domestic product in the United Kingdom expanded 1.2 percent year-on-year in the second quarter of 2018, revised from a preliminary estimate of 1.3 percent and little-changed from a near six-year low of 1.1 percent in the previous period. Household consumption and net external demand contributed positively to GDP growth while business investment shrank. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2018, reaching an all time high of 9.70 percent in the first quarter of 1973 and a record low of -6.10 percent in the first quarter of 2009.

United Kingdom GDP Annual Growth Rate
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UK Q2 GDP Annual Growth Revised Lower


The gross domestic product in the United Kingdom expanded 1.2 percent year-on-year in the second quarter of 2018, revised from a preliminary estimate of 1.3 percent and little-changed from a near six-year low of 1.1 percent in the previous period.

On the expenditure side, household expenditure rose 1.6 percent in the second quarter (vs first estimate of 1.1 percent and 1.5 percent in Q1); while gross fixed capital formation dropped 0.6 percent (vs first estimate of 0.7 percent and 1.7 percent in Q1) as business investment contracted 0.2 percent (vs first estimate of 0.8 percent and 2.3 percent in Q1). Government spending was unchanged (vs first estimate of 1.1 percent), compared with 0.7 percent advance in the previous period.

Exports rose 0.8 percent (vs first estimate of -1.8 percent), following a 4.3 percent jump in Q1; while imports rose at a slower 0.6 percent (vs first estimate of -0.6 percent), after increasing by 1.4 percent the previous period. As a result, the trade deficit narrowed to £5.659 billion from £5.981 billion in Q2 2017. 

On the production side, the service industries expanded 1.5 percent (vs 1.3 percent in Q1), driven by wholesale & retail trade, transport storage & communication, and accommodation & food services. Industrial production went up 0.8 percent (vs first estimate of 1.4 percent and 2 percent in Q1), as manufacturing output rose while a contraction was recorded for mining & quarrying, electricity, gas, steam & air conditioning supply, and water supply, sewerage, waste management & remediation activities. Construction output rebounded 0.4 percent in the second quarter (vs first estimate of 0.8 percent and -0.3 percent in Q1).


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/28/2018 12:13:03 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-06-29 08:30 AM GDP Growth Rate YoY Final 1.2% 1.3% 1.2% 1.2%
2018-08-10 08:30 AM GDP Growth Rate YoY Prel 1.3% 1.2% 1.2% 1.4%
2018-09-28 08:30 AM GDP Growth Rate YoY Final 1.2% 1.1% 1.3% 1.3%
2018-11-09 09:30 AM GDP Growth Rate YoY Prel 1.2% 1.4%
2018-12-21 09:30 AM GDP Growth Rate YoY Final 1.2%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.10 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.20 1.10 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 515919.00 511762.00 515919.00 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 Annual Growth Rate

The United Kingdom is the sixth largest economy in the world and the second largest in Europe after Germany. 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. This page provides the latest reported value for - United Kingdom GDP Annual 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 Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.10 9.70 -6.10 1956 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 8.20 Jun/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Turkey 5.20 Jun/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
Netherlands 3.10 Jun/18
United States 2.90 Jun/18
South Korea 2.80 Jun/18
Mexico 2.60 Jun/18
Singapore 2.60 Sep/18
Spain 2.50 Jun/18
Euro Area 2.10 Jun/18
Germany 2.00 Jun/18
Canada 1.90 Jun/18
Russia 1.90 Jun/18
France 1.70 Jun/18
Saudi Arabia 1.61 Jun/18
Italy 1.20 Jun/18
United Kingdom 1.20 Jun/18
Brazil 1.00 Jun/18
Japan 1.00 Jun/18
South Africa 0.40 Jun/18
Argentina -4.20 Jun/18


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