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 but below the preliminary estimate of 2.1 percent. Fixed investment rose at a faster pace as business investment increased for the first time in over a year while household spending 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
Receive the next reported value for United Kingdom GDP Annual Growth Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website
Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-03-31 08:30 AM Q4 1.9% 2% 2% 2%
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 1.9% 2% 2%
2017-07-26 08:30 AM Q2 1.8%
2017-08-24 08:30 AM Q2 1.8%




UK Q1 GDP Growth Revised Down To 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 but below the preliminary estimate of 2.1 percent. Fixed investment rose at a faster pace as business investment increased for the first time in over a year while household spending slowed and net trade contributed negatively.

On the expenditure side, gross fixed capital formation went up at a faster 2.2 percent (1 percent in Q4), as business investment rebounded by 0.8 percent, following four consecutive months 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 4.3 percent, following a 2 percent gain in Q4; while exports rose at a slower 2.1 percent, after rising by 0.6 percent the previous period. As a result, the trade deficit widened to £16.4 billion from £12.8 billion in Q1 2016. 

On the production side, the service industries expanded 2.4 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 (3.8 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 (2.6 percent from 2 percent in Q4), and mining and quarrying rebounded (1.4 percent from -3 percent). Meanwhile, output rose at a slower pace for electricity, gas, steam and air conditioning supply (0.5 percent from 5.4 percent in Q4); and water supply, sewerage, waste management and remediation activities (3.5 percent from 5.3 percent) . Construction expansion slowed to 1.9 percent from 2.8 percent in Q4.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/25/2017 9:29:33 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 2861.10 2998.83 3063.01 72.33 USD Billion [+]
GDP Constant Prices 471388.00 470527.00 471388.00 107263.00 GBP Million [+]
Gross National Product 492534.00 482206.00 492534.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 78993.00 78054.00 80420.00 13405.00 GBP Million [+]
GDP per capita 41182.60 40620.02 41182.60 13868.61 USD [+]
GDP per capita PPP 38509.21 37983.13 38509.21 26388.08 USD [+]
GDP From Agriculture 3111.00 3101.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 26634.00 26573.00 26634.00 20035.00 GBP Million [+]
GDP From Manufacturing 41817.00 41591.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 7404.00 7309.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18903.00 18933.00 22274.00 18888.00 GBP Million [+]
GDP From Services 337881.00 336908.00 337881.00 171542.00 GBP Million [+]
GDP From Transport 18280.00 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 May 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
India 7.00 Dec/16
China 6.90 Mar/17
Indonesia 5.01 Mar/17
Turkey 3.50 Dec/16
Netherlands 3.40 Mar/17
Spain 3.00 Mar/17
Mexico 2.80 Mar/17
South Korea 2.70 Mar/17
Australia 2.40 Dec/16
United Kingdom 2.00 Mar/17
United States 2.00 Mar/17
Canada 1.90 Dec/16
Euro Area 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.60 Mar/17
France 0.80 Mar/17
Italy 0.80 Mar/17
Switzerland 0.60 Dec/16
Russia 0.50 Mar/17
Brazil -2.50 Dec/16