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

The British economy advanced 1.2 percent year-on-year in the first three months of 2018, slowing from a 1.4 percent rise in the previous quarter and matching the preliminary estimate. It is the lowest annual growth rate since the second quarter of 2012 amid a slowdown in household spending, business investment and exports, the second estimate showed. GDP Annual Growth Rate in the United Kingdom averaged 2.44 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 -5.90 percent in the first quarter of 2009.

United Kingdom GDP Annual Growth Rate
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UK Annual GDP Growth Confirmed at 1.2% in Q1


The British economy advanced 1.2 percent year-on-year in the first three months of 2018, slowing from a 1.4 percent rise in the previous quarter and matching the preliminary estimate. It is the lowest annual growth rate since the second quarter of 2012 amid a slowdown in household spending, business investment and exports, the second estimate showed.

Household spending increased 1.1 percent in Q1, below 1.2 percent in Q4 and consumption of non-profit institutions shrank 0.9 percent after a 0.1 percent gain. 

Gross fixed capital formation rose at a faster 4.3 percent (4 percent in Q4) although business investment growth slowed to 2 percent (2.6 percent in Q4).

Both exports (2.3 percent compared to 2.7 percent in Q4) and imports (1.6 percent compared to 3.1 percent) rose less.

On the other hand, government spending growth accelerated (1.2 percent compared to 0.6 percent). 

On a quarterly basis, the economy expanded a meager 0.1 percent, the lowest growth rate since a 0.1 percent contraction in Q4 2012.


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
5/25/2018 9:48:50 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-29 08:30 AM GDP Growth Rate YoY Final 1.4% 1.8% 1.4% 1.4%
2018-04-27 08:30 AM GDP Growth Rate YoY Prel 1.2% 1.4% 1.4% 1.5%
2018-05-25 08:30 AM GDP Growth Rate YoY 2nd Est 1.2% 1.4% 1.4% 1.2%
2018-06-29 08:30 AM GDP Growth Rate YoY Final 1.4% 1.2% 1.2%
2018-08-10 08:30 AM GDP Growth Rate YoY Prel 1.4%
2018-09-28 08:30 AM GDP Growth Rate YoY 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 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.40 9.70 -5.90 1956 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.80 Mar/18
Indonesia 5.06 Mar/18
Australia 3.10 Mar/18
Spain 3.00 Mar/18
Netherlands 2.80 Mar/18
South Korea 2.80 Mar/18
United States 2.80 Mar/18
Euro Area 2.50 Mar/18
Canada 2.30 Mar/18
Germany 2.30 Mar/18
France 2.20 Mar/18
Switzerland 2.20 Mar/18
Italy 1.40 Mar/18
Mexico 1.30 Mar/18
Russia 1.30 Mar/18
Brazil 1.20 Mar/18
United Kingdom 1.20 Mar/18
Japan 1.10 Mar/18


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