The gross domestic product in the United Kingdom expanded 1.5 percent year-on-year in the third quarter of 2018, up from 1.2 percent in the previous period and matching market expectations. It was the strongest pace of expansion since the third quarter of 2017 mainly driven by household consumption and exports while business investment dropped the most since the first quarter of 2016. 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 Q3 GDP Annual Growth Strongest in 1 Year


The gross domestic product in the United Kingdom expanded 1.5 percent year-on-year in the third quarter of 2018, up from 1.2 percent in the previous period and matching market expectations. It was the strongest pace of expansion since the third quarter of 2017 mainly driven by household consumption and exports while business investment dropped the most since the first quarter of 2016.

On the expenditure side, household expenditure rose 1.8 percent in the third quarter (vs 1.6 percent in Q2); and government spending advanced 0.8 percent after being unchanged in the previous period. By contrast, fixed investment showed no growth (vs -0.6 percent in Q2) as business investment contracted the most since the first quarter of 2016.

Exports rose 0.7 percent, following a 0.8 percent gain in Q2; while imports declined 0.5 percent, after increasing by 0.6 percent the previous period. As a result, the trade deficit narrowed to £1.655 billion from £3.530 billion in Q3 2017. 

On the production side, the service industries expanded 1.7 percent (vs 1.5 percent in Q2), as output rose for: distribution, hotels and restaurants (2.8 percent vs 2.3 percent); transport storage and communications (4.1 percent vs 3.3 percent); business services and finance (1.3 percent vs 1.6 percent); and government and other services (0.3 percent vs 0.2 percent). Industrial production went up 0.7 percent (vs 0.8 percent in Q2), as output rose for: manufacturing (1 percent vs 1.3 percent); mining and quarrying (0.4 percent vs -1.1 percent); and water supply, sewerage, waste management and remediation activities (0.5 percent vs -0.4 percent). Electricity, gas, steam and air conditioning supply shrank 1 percent after a 0.7 percent contraction in the previous period. Construction expansion picked up to 2 percent from 0.4 percent in Q2.


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/9/2018 10:14:00 AM



Calendar GMT Actual Previous Consensus TEForecast
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 1.5% 1.2% 1.5% 1.5%
2018-12-21 09:30 AM GDP Growth Rate YoY Final 1.2% 1.5% 1.5%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.40 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.50 1.20 9.70 -6.10 percent [+]
GDP 2622.43 2650.85 3074.36 72.33 USD Billion [+]
GDP Constant Prices 509120.00 506031.00 509120.00 111480.00 GBP Million [+]
Gross National Product 515919.00 511762.00 515919.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 85936.00 85224.00 86472.00 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 2927.00 2922.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 28672.00 28071.00 28672.00 19264.00 GBP Million [+]
GDP From Manufacturing 45701.00 45439.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4692.00 4614.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20726.00 20750.00 24234.00 20573.00 GBP Million [+]
GDP From Services 362756.00 361235.00 362756.00 178666.00 GBP Million [+]
GDP From Transport 19568.00 19442.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.20 9.70 -6.10 1956 - 2018 percent Quarterly




Country Last
India 8.20 Jun/18
China 6.50 Sep/18
Turkey 5.20 Jun/18
Indonesia 5.17 Sep/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
United States 3.00 Sep/18
Mexico 2.60 Sep/18
Singapore 2.60 Sep/18
Spain 2.50 Sep/18
Netherlands 2.40 Sep/18
South Korea 2.00 Sep/18
Canada 1.90 Jun/18
Euro Area 1.70 Sep/18
Saudi Arabia 1.61 Jun/18
France 1.50 Sep/18
United Kingdom 1.50 Sep/18
Russia 1.30 Sep/18
Germany 1.10 Sep/18
Brazil 1.00 Jun/18
Italy 0.80 Sep/18
South Africa 0.40 Jun/18
Japan 0.30 Sep/18
Argentina -4.20 Jun/18


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