United Kingdom GDP Annual Growth Rate  1956-2017 | Data | Chart | Calendar

The British economy grew 1.5 percent year-on-year in the third quarter of 2017, unrevised from the preliminary estimate and the same pace as in the previous period. It was the weakest annual growth rate since the first quarter of 2013, as fixed investment rose at a softer pace. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2017, reaching an all time high of 9.70 percent in the first quarter of 1973 and a record low of -5.90 percent in the first quarter of 2009.

United Kingdom GDP Annual Growth Rate
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UK Q3 GDP Annual Growth Confirmed at 4-1/2-Year Low


The British economy grew 1.5 percent year-on-year in the third quarter of 2017, unrevised from the preliminary estimate and the same pace as in the previous period. It was the weakest annual growth rate since the first quarter of 2013, as fixed investment rose at a softer pace.

On the expenditure side, household expenditure rose 1.6 percent, the same pace as in Q2; and gross fixed capital formation went up at a slower 1.8 percent (2.4 percent in Q2) as business investment growth slowed to 1.3 percent (2.5 percent in Q2). Meanwhile, government spending grew by 0.8 percent, faster than a 0.5 percent gain in the previous period.

Exports jumped 6.2 percent, following a 4.9 percent gain in Q2; while imports rose at a slower 1.5 percent, after increasing by 3.4 percent the previous period. As a result, the trade deficit narrowed to £11.7 billion from £17.4 billion in Q3 2016. 

On the production side, the service industries expanded 1.4 percent (1.8 percent in Q2) as output rose for: Distribution, hotels and restaurants (2.2 percent from 3.1 percent Q2); transport storage and communications (1 percent from 3.4 percent); business services and finance (1.6 percent from 1.3 percent); and government and other services (0.9 percent from 1.1 percent). Industrial production grew 1.8 percent (0.2 percent in Q2), as output rose for: Manufacturing (2.7 percent from 0.9 percent) and water supply, sewerage, waste management and remediation activities (2.6 percent from 2.4 percent). Meanwhile, electricity, gas, steam and air conditioning supply showed no growth (-4.8 percent in Q2); and mining and quarrying continued to contract (-3.6 percent from -0.9 percent). Construction expansion slowed to 2.6 percent from 4.1 percent in Q2.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/23/2017 10:25:25 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-09-29 08:30 AM GDP Growth Rate YoY Final 1.5% 1.8% 1.7% 1.7%
2017-10-25 08:30 AM GDP Growth Rate YoY Prel 1.5% 1.5% 1.5% 1.5%
2017-11-23 09:30 AM GDP Growth Rate YoY 2nd Est 1.5% 1.5% 1.5% 1.5%
2017-12-22 09:30 AM GDP Growth Rate YoY Final 1.5% 1.5% 1.5%
2018-01-26 09:30 AM GDP Growth Rate YoY Prel
2018-02-22 09:30 AM GDP Growth Rate YoY 2nd Est


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.30 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.50 1.50 9.70 -5.90 percent [+]
GDP 2618.89 2861.09 3063.01 72.33 USD Billion [+]
GDP Constant Prices 488907.00 486914.00 488907.00 109967.00 GBP Million [+]
Gross National Product 495902.00 493691.00 495902.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 81375.00 81183.00 81375.00 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 2645.00 2640.00 2851.00 2041.00 GBP Million [+]
GDP From Construction 27221.00 27478.00 27621.00 19565.00 GBP Million [+]
GDP From Manufacturing 43776.00 43306.00 45025.00 38738.00 GBP Million [+]
GDP From Mining 5148.00 5042.00 11610.00 4478.00 GBP Million [+]
GDP From Public Administration 19608.00 19606.00 22885.00 19467.00 GBP Million [+]
GDP From Services 348562.00 347342.00 348562.00 175893.00 GBP Million [+]
GDP From Transport 18989.00 19087.00 19553.00 9851.00 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 December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 9.70 -5.90 1956 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17