The gross domestic product in the United Kingdom expanded 1.4 percent year-on-year in the fourth quarter of 2018, compared to a preliminary estimate of 1.3 and the previous period's figure of 1.6 percent. Household consumption and government spending supported growth while business investment dropped and net trade contributed negatively to the expansion. 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.

GDP Annual Growth Rate in the United Kingdom is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in the United Kingdom to stand at 1.30 in 12 months time. In the long-term, the United Kingdom GDP Annual Growth Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

United Kingdom GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
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 1.5% 1.4% 1.5% 1.5%
2019-02-11 09:30 AM GDP Growth Rate YoY Prel 1.3% 1.6% 1.4% 1.3%
2019-03-29 09:30 AM GDP Growth Rate YoY Final 1.4% 1.6% 1.3% 1.3%
2019-05-10 08:30 AM GDP Growth Rate YoY Prel 1.4% 1.8%
2019-06-28 08:30 AM GDP Growth Rate YoY Final 1.4% 1.8%
2019-08-09 08:30 AM GDP Growth Rate YoY Prel 1.5%



UK Q4 GDP Annual Growth Revised Slightly Higher to 1.4%

The gross domestic product in the United Kingdom expanded 1.4 percent year-on-year in the fourth quarter of 2018, compared to a preliminary estimate of 1.3 and the previous period's figure of 1.6 percent. Household consumption and government spending supported growth while business investment dropped and net trade contributed negatively to the expansion.

On the expenditure side, household expenditure rose 1.7 percent in the fourth quarter, little-changed from 1.8 percent in the previous period; and government spending surged 1 percent, reversing a 0.3 percent decline. By contrast, fixed investment dropped 1.1 percent (vs 0.2 percent in Q3) as business investment continued to contract (-2.5 percent vs -1.3 percent).

Exports edged up 0.2 percent (vs -1.3 percent in Q3) and imports rose at a faster 2.6 percent (vs -0.1 percent in Q3). As a result, the trade deficit widened to £6.9 billion from £3.2 billion in Q4 2017.

On the production side, the service industries expanded 2 percent (vs 1.9 percent in Q3), as output rose for: distribution, hotels and restaurants (3.5 percent vs 3.4 percent); transport storage and communications (3.9 percent vs 4.5 percent); business services and finance (1.4 percent, the same as in Q3); and government and other services (1.1 percent vs 0.3 percent). Construction grew 0.3 percent, after a 1.2 percent gain in Q3. By contrast, industrial production contracted 0.7 percent (vs 0.8 percent in Q3), as output fell for manufacturing (-1.3 percent vs 0.9 percent), electricity, gas, steam and air conditioning supply (-2.5 percent vs -1.9 percent) and water supply, sewerage, waste management and remediation activities (-0.7 percent vs 0.2 percent). Mining and quarrying jumped 8.7 percent, following a 4.6 percent advance in Q3.

Considering 2018 full year, the economy grew 1.4 percent, slower than 1.8 percent in 2017.


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/29/2019 11:59:37 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 1.40 1.60 9.70 -6.10 percent [+]
GDP 2622.43 2650.85 3074.36 72.33 USD Billion [+]
GDP Constant Prices 511482.00 510346.00 511482.00 111480.00 GBP Million [+]
Gross National Product 527584.00 525092.00 527584.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 85462.00 85884.00 86673.00 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 2884.00 2866.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 28286.00 28441.00 28441.00 19264.00 GBP Million [+]
GDP From Manufacturing 45256.00 45590.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4789.00 4827.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20942.00 20947.00 24234.00 20573.00 GBP Million [+]
GDP From Services 365834.00 364094.00 365834.00 178666.00 GBP Million [+]
GDP From Transport 20043.00 19787.00 20043.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.60 9.70 -6.10 1956 - 2018 percent Quarterly
SA




Country Last Previous
India 6.60 Dec/18
China 6.40 Mar/19
Indonesia 5.18 Dec/18
Saudi Arabia 3.60 Dec/18
South Korea 3.10 Dec/18
United States 3.00 Dec/18
Russia 2.70 Dec/18
Australia 2.30 Dec/18
Spain 2.30 Dec/18
Netherlands 2.20 Dec/18
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Switzerland 1.40 Dec/18
United Kingdom 1.40 Dec/18
Singapore 1.30 Mar/19
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 1.00 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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