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

UK's gross domestic product expanded 2 percent year-on-year in the first quarter of 2017, following a 1.9 percent growth in the previous period and in line with the previous estimate. Fixed investment rose at a faster pace, with business investment increasing for the first time in over a year, while household spending growth slowed and net trade contributed negatively. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2017, reaching an all time high of 9.80 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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Calendar GMT Actual Previous Consensus Forecast (i)
2017-04-28 08:30 AM Q1 2.1% 1.9% 2.2% 2.3%
2017-05-25 08:30 AM Q1 2% 1.9% 2.1% 2.1%
2017-06-30 08:30 AM Q1 2% 1.9% 2% 2%
2017-07-26 08:30 AM Q2 2% 1.7% 1.9%
2017-08-24 08:30 AM Q2 2% 1.9%
2017-09-29 08:30 AM Q2 2% 1.9%




UK Q1 GDP Growth Confirmed At 2% YoY


UK's gross domestic product expanded 2 percent year-on-year in the first quarter of 2017, following a 1.9 percent growth in the previous period and in line with the previous estimate. Fixed investment rose at a faster pace, with business investment increasing for the first time in over a year, while household spending growth slowed and net trade contributed negatively.

On the expenditure side, gross fixed capital formation went up at a faster 2 percent (1 percent in Q4), as business investment rebounded by 0.7 percent, following four consecutive quarters of decline. Also, household expenditure grew by 2.6 percent (2.9 percent in Q4) and government spending by 0.8 percent (0.4 percent in Q4).

Imports jumped 3.3 percent, following a 2 percent gain in Q4; while exports rose at a slower 2.9 percent, after rising by 0.6 percent the previous period. As a result, the trade deficit widened to £13.7 billion from £12.8 billion in Q1 2016. 

On the production side, the service industries expanded 2.3 percent (2.9 percent in Q4), as output rose for: Distribution, hotels and restaurants (3.5 percent from 6 percent in Q4); transport storage and communications (3.2 percent from 4.4 percent); business services and finance (2.4 percent from 2.3 percent); and government and other services (1.1 percent from 1.2 percent). Industrial production rose at a faster 2.3 percent (1.9 percent in Q4), as manufacturing growth accelerated (2.5 percent from 2 percent in Q4), and mining and quarrying rebounded (1.1 percent from -3 percent). Meanwhile, output rose at a slower pace for electricity, gas, steam and air conditioning supply (0.7 percent from 5.4 percent in Q4); and water supply, sewerage, waste management and remediation activities (3.8 percent from 5.3 percent). Construction expansion was unchanged at 2.8 percent.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/30/2017 9:39:27 AM



United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.70 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.00 1.90 9.80 -6.10 percent [+]
GDP 2618.89 2861.09 3063.01 72.33 USD Billion [+]
GDP Constant Prices 471524.00 470527.00 471524.00 107263.00 GBP Million [+]
Gross National Product 494149.00 492534.00 494149.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 78855.00 78054.00 80420.00 13405.00 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 3110.00 3101.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 26637.00 26573.00 26637.00 20035.00 GBP Million [+]
GDP From Manufacturing 41736.00 41591.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 7444.00 7309.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18925.00 18933.00 22274.00 18888.00 GBP Million [+]
GDP From Services 337630.00 336908.00 337630.00 171542.00 GBP Million [+]
GDP From Transport 18292.00 18160.00 18739.00 9402.00 GBP Million [+]


United Kingdom GDP Annual Growth Rate Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 1.90 9.80 -6.10 1956 - 2017 percent Quarterly



gdp annual growth rate by Country

Last
China 6.90 Jun/17
India 6.10 Mar/17
Indonesia 5.01 Mar/17
Turkey 5.00 Mar/17
Netherlands 3.20 Mar/17
Spain 3.00 Mar/17
South Korea 2.90 Mar/17
Mexico 2.80 Mar/17
Canada 2.30 Mar/17
United States 2.10 Mar/17
United Kingdom 2.00 Mar/17
Euro Area 1.90 Mar/17
Australia 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.30 Mar/17
Italy 1.20 Mar/17
France 1.10 Mar/17
Switzerland 1.10 Mar/17
Russia 0.50 Mar/17
Brazil -0.40 Mar/17