UK gross domestic product expanded by 1.3 percent on quarter in the three months to September 2021, compared with market expectations of 1.5 percent. The largest contributors were hospitality, arts and recreation and health following the further easing of restrictions and reopening of the economy. source: Office for National Statistics

Leading Economic Index in the United Kingdom averaged 0.47 percent from 1997 until 2021, reaching an all time high of 17.70 percent in September of 2020 and a record low of -19.30 percent in June of 2020. This page provides - United Kingdom Monthly GDP- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom GDP 3-Month Average - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Leading Economic Index in the United Kingdom is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom GDP 3-Month Average is projected to trend around 0.70 percent in 2022 and 0.30 percent in 2023, according to our econometric models.

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United Kingdom GDP 3-Month Average

Calendar GMT Actual Previous Consensus TEForecast
2021-10-13 06:00 AM Aug 2.9% 4.2% 3% 2.5%
2021-11-11 07:00 AM Sep 1.3% 2.7% 1.5% 1.5%
2021-12-10 07:00 AM Oct 1.3% 1% 1.1%

Related Last Previous Unit Reference
Industrial Production Mom -0.40 1.00 percent Sep/21
Industrial Production 2.90 4.00 percent Sep/21
Manufacturing Production 2.80 4.20 percent Sep/21
New Orders 12112.00 13364.00 GBP Million Sep/21
Changes in Inventories 4736.00 2996.00 GBP Million Sep/21
Corporate Profits 122097.00 128529.00 GBP Million Sep/21
Private Investment 0.40 4.50 percent Sep/21
Mining Production 4.20 2.60 percent Sep/21
Leading Economic Index 1.30 2.70 percent Sep/21

News Stream
UK Economy Grows 2.9% in June-August
UK gross domestic product expanded by 2.9 percent on quarter in the three months to August 2021, compared with market expectations of 3 percent, largely reflecting the gradual reopening of accommodation and food service activities and a rise in underlying human health activities. Considering August only, GDP advanced 0.4 percent, recovering from a slight contraction in July and leaving the economy 0.8 percent smaller than it was in February 2020. Services output grew by 0.3 percent on the back of consumer-facing services (1.2 percent). In addition, production output increased by 0.8 percent, mainly because of the continued increase in the extraction of crude petroleum and natural gas following the recent temporary closure of oil field production sites for planned maintenance. Construction contracted 0.2 percent.
UK GDP Growth Below Forecasts
UK GDP grew by 3.6% in the three months to July, slightly below market expectations of 3.8%, largely because of the performance of the services sector. This partly reflected the gradual reopening of accommodation and food service activities, and non-essential stores, as well as the increase in school attendance. Considering July only, GDP expanded by just 0.1%, missing forecasts of 0.6% and remaining 2.1% below its pre-pandemic level. Production output was the main contributor to GDP growth, due to the reopening of an oil field production site, which was previously temporarily closed for planned maintenance. Meanwhile, construction contracted for a fourth consecutive month and services output remained broadly flat as output in consumer-facing services fell for the first time since January mainly because of a decline in retail sales. Arts, entertainment and recreation activities surged, reflecting the easing of restrictions on social distancing from July 19.
UK Economy Grows, Monthly GDP Beats Forecasts
UK gross domestic product expanded by 4.8 percent on quarter in the three months to June 2021, in line with market expectations, largely because of the performance of the service sector. Retail sales grew strongly in the latest three months, pupil attendance increased as schools reopened from March 2021, and food and beverage service activities also reopened. Considering June only, GDP advanced 1.0 percent, a fifth consecutive month of growth and slightly above forecasts of 0.8 percent. Services continued to be the main contributor to GDP’s recovery (1.5 percent vs 0.7 percent in May), mainly boosted by health activities and food and beverage services activities. Production output fell by 0.7 percent in June, as planned temporary closures for maintenance of oil field production sites once again hit output, while construction contracted for a third consecutive month.

United Kingdom GDP 3-Month Average
GDP measures the value of goods and services produced in the UK. The reading refers to a three-month growth rate, which is a better indicator of the underlying growth in GDP as the monthly figure is likely to be more volatile. In this sense, the monthly release can be thought of as a monthly update on three months’ worth of data on the economy, rather than a figure representing the economy in just one month. Rolling three-month data is calculated by comparing growth in a three-month period with growth in the previous three-month period, for example growth in March to May compared with the previous December to February.