The British economy shrank 7.6% in the three months to July, following a record 20.4% plunge in the three months to June and compared to market forecasts of a 7.5% fall. Coronavirus restrictions on movement continued to dramatically reduce economic activity, with declines seen in all sectors. Considering July only, the economy advanced 6.6%, compared to forecasts of 6.7%. Education grew strongly as some children returned to school, while pubs, campsites and hairdressers all saw notable improvements. Car sales exceeded pre-crisis levels for the first time with showrooms having a particularly busy time. All areas of manufacturing saw improvements, while housebuilding also continued to recover. However, both production and construction remain well below previous levels. Despite the increase in July, economic output remains 11.7% below the levels seen in February 2020, before the full impact of the coronavirus pandemic.

Leading Economic Index in the United Kingdom averaged 0.28 percent from 1997 until 2020, reaching an all time high of 2 percent in September of 1999 and a record low of -20.40 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 September of 2020. source: Office for National Statistics

Leading Economic Index in the United Kingdom is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in the United Kingdom to stand at 0.80 in 12 months time. In the long-term, the United Kingdom GDP 3-Month Average is projected to trend around 0.70 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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United Kingdom GDP 3-Month Average

Actual Previous Highest Lowest Dates Unit Frequency
-7.60 -20.40 2.00 -20.40 1997 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-12 06:00 AM Apr -10.4% -2% -10% -12%
2020-07-14 06:00 AM May -19.1% -10.8% -17.4% -17%
2020-08-12 06:00 AM Jun -20.4% -18.7% -21.2% -20.4%
2020-09-11 06:00 AM Jul -7.6% -20.4% -7.5% -8%
2020-10-09 06:00 AM Aug 6%
2020-11-11 07:00 AM Sep 14%
2020-12-10 07:00 AM Oct


News Stream
UK GDP Contracts Less in July
The British economy shrank 7.6% in the three months to July, following a record 20.4% plunge in the three months to June and compared to market forecasts of a 7.5% fall. Coronavirus restrictions on movement continued to dramatically reduce economic activity, with declines seen in all sectors. Considering July only, the economy advanced 6.6%, compared to forecasts of 6.7%. Education grew strongly as some children returned to school, while pubs, campsites and hairdressers all saw notable improvements. Car sales exceeded pre-crisis levels for the first time with showrooms having a particularly busy time. All areas of manufacturing saw improvements, while housebuilding also continued to recover. However, both production and construction remain well below previous levels. Despite the increase in July, economic output remains 11.7% below the levels seen in February 2020, before the full impact of the coronavirus pandemic.
2020-09-11
UK GDP Falls Most on Record in Q2
Britain's gross domestic product fell by 20.4 percent in the three months to June 2020, the most on record and compared to market expectations of a 21.2 percent contraction, as government restrictions on movement to combat the coronavirus pandemic dramatically reduced economic activity. The services sector fell by 19.9 percent, driven by falls in nearly every industry, most notably: education (-34.4 percent) as a result of school closures; health (-36.1 percent) as a result of reduced activity in elective operations and fewer accident and emergency visits; food and beverage service activities (-84.7 percent) as a result of the closure of bars and restaurants; and wholesale and retail trade and repair of motor vehicles and motorcycles (-63.0 percent), predominantly driven by a reduction in new car registrations. In addition, production dropped by 16.9 percent due to falls in all four sub-sectors and construction shrank by 35.0 percent led by private new housing and private commercial.
2020-08-12
UK GDP Shrinks at Record Pace
Britain's gross domestic product fell by 19.1 percent in the three months to May 2020, the most on record and compared to market expectations of a 17.4 percent contraction, as government restrictions on movement to combat the coronavirus pandemic dramatically reduced economic activity. The services sector fell by 18.9 percent, driven by falls in nearly every industry, most notably: education (-37.8 percent) as a result of school closures; health (-31.4 percent) due to reduced activity in elective operations and fewer accident and emergency visits; food and beverage service activities (-69.3 percent) as a result of the closure of bars and restaurants; and wholesale and retail trade and repair of motor vehicles and motorcycles (-71.0 percent) predominantly driven by a reduction in new car registrations. In addition, production dropped by 15.5 percent due to falls in all four sub-sectors and construction shrank by 29.8 percent led by private new housing and private commercial.
2020-07-14
British Economy Shrinks at Record Pace
The UK economy contracted 10.4 percent in the three months to April of 2020, slightly more than market forecasts of a 10 percent fall. It is a record plunge in GDP as government restrictions on movement dramatically reduced economic activity. The impacts of the coronavirus were seen right across the economy, with pubs, education, health, car sales, car manufacturing and housebuilding giving the biggest downward contributions. The services sector fell by 9.9 percent, production by 9.5 percent and construction by 18.2 percent, all record decreases. Considering April only, the economy shrank 20.4 percent compared to March also a record fall and above expectations of an 18.4 decrease. Year-on-year, the GDP went down 24.5 percent in April only.
2020-06-12

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.