UNITED KINGDOM OUTPUT GAP IN PERCENT OF POTENTIAL GDP


THE OUTPUT GAP IN PERCENT OF POTENTIAL GDP IN THE UNITED KINGDOM WAS REPORTED AT -5.51 PERCENT OF POTENTIAL GDP IN 2009, ACCORDING TO THE INTERNATIONAL MONETARY FUND (IMF). IN 2015, THE UNITED KINGDOM'S OUTPUT GAP IN PERCENT OF POTENTIAL GDP IS EXPECTED TO BE -0.35 PERCENT OF POTENTIAL GDP. OUTPUT GAPS FOR ADVANCED ECONOMIES ARE CALCULATED AS ACTUAL GDP LESS POTENTIAL GDP AS A PERCENT OF POTENTIAL GDP. ESTIMATES OF OUTPUT GAPS ARE SUBJECT TO A SIGNIFICANT MARGIN OF UNCERTAINTY. FOR A DISCUSSION OF APPROACHES TO CALCULATING POTENTIAL OUTPUT; SEE PAULA R. DE MASI; IMF ESTIMATES OF POTENTIAL OUTPUT: THEORY AND PRACTICE; IN STAFF STUDIES FOR THE WORLD ECONOMIC OUTLOOK (WASHINGTON: IMF; DECEMBER 1997); PP. 40-46. IN 2009, THE UNITED KINGDOM'S ECONOMY SHARE OF WORLD TOTAL GDP, ADJUSTED BY PURCHASING POWER PARITY, WAS 3.10 PERCENT. IN 2015, THE UNITED KINGDOM'S SHARE OF WORLD TOTAL GDP IS FORECASTED TO BE 2.81 PERCENT. THIS PAGE INCLUDES A CHART, HISTORICAL DATA AND FORECAST FOR THE UNITED KINGDOM'S OUTPUT GAP IN PERCENT OF POTENTIAL GDP.



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IMF Data Specifications


CountryUnited Kingdom
Subject DescriptorOutput gap in percent of potential GDP
Subject NotesOutput gaps for advanced economies are calculated as actual GDP less potential GDP as a percent of potential GDP. Estimates of output gaps are subject to a significant margin of uncertainty. For a discussion of approaches to calculating potential output; see Paula R. De Masi; IMF Estimates of Potential Output: Theory and Practice; in Staff Studies for the World Economic Outlook (Washington: IMF; December 1997); pp. 40-46.
UnitsPercent of potential GDP
Scale 
Country/Series-specific NotesSee notes for: Gross domestic product; constant prices (National currency).
Estimates Start After2009
TitleUnited Kingdom Output gap in percent of potential GDP
KeywordsUnited Kingdom Output gap in percent of potential GDP, United Kingdom Output gap in percent of potential GDP data,United Kingdom Output gap in percent of potential GDP chart,United Kingdom Output gap in percent of potential GDP historical data,United Kingdom Output gap in percent of potential GDP graph,United Kingdom Output gap in percent of potential GDP forecast.