UK gross domestic product grew by 4.8 percent on quarter in April to June 2021, recovering from a 1.6 percent contraction in the previous three-month period, as activity and demand rebounded following the easing of coronavirus restrictions. Household consumption jumped 7.3 percent (vs -4.6 percent in Q1) and public spending advanced 6.1 percent (vs 1.5 percent in Q1). Meanwhile, fixed investment continued to contract (-0.5 percent vs -1.7 percent) despite an increase in business investment, and net trade contributed negatively to the GDP as imports rose more than exports. In output terms, the largest contributors to this increase were from wholesale and retail trade, accommodation and food service activities, and education. The level of GDP remained 4.4 percent below pre-pandemic levels. source: Office for National Statistics

GDP Growth Rate in the United Kingdom averaged 0.59 percent from 1955 until 2021, reaching an all time high of 16.90 percent in the third quarter of 2020 and a record low of -19.50 percent in the second quarter of 2020. This page provides the latest reported value for - United Kingdom GDP 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 Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

GDP 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. In the long-term, the United Kingdom GDP Growth Rate is projected to trend around 0.90 percent in 2022 and 0.50 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
United Kingdom GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.80 -1.60 16.90 -19.50 1955 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-31 06:00 AM QoQ Final Q4 1.3% 16.9% 1% 1%
2021-05-12 06:00 AM QoQ Prel Q1 -1.5% 1.3% -1.6% -1.4%
2021-06-30 06:00 AM QoQ Final Q1 -1.6% 1.3% -1.5% -1.5%
2021-08-12 06:00 AM QoQ Prel Q2 4.8% -1.6% 4.8% 5.1%
2021-09-30 06:00 AM QoQ Final Q2 -1.6% 4.8% 4.8%
2021-11-11 07:00 AM QoQ Prel Q3 1.5%
2021-12-22 07:00 AM QoQ Final Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
UK Economy Expands 4.8% in Q2
UK gross domestic product grew by 4.8 percent on quarter in April to June 2021, recovering from a 1.6 percent contraction in the previous three-month period, as activity and demand rebounded following the easing of coronavirus restrictions. Household consumption jumped 7.3 percent (vs -4.6 percent in Q1) and public spending advanced 6.1 percent (vs 1.5 percent in Q1). Meanwhile, fixed investment continued to contract (-0.5 percent vs -1.7 percent) despite an increase in business investment, and net trade contributed negatively to the GDP as imports rose more than exports. In output terms, the largest contributors to this increase were from wholesale and retail trade, accommodation and food service activities, and education. The level of GDP remained 4.4 percent below pre-pandemic levels.
2021-08-12
UK Economy Contracts 1.6% in Q1
UK gross domestic product shrank by 1.6 percent on quarter in January to March 2021, revised from the first estimate of a 1.5 percent fall and ending a two-quarter period of growth. There were declines in both household consumption (-4.6 percent vs -1.7 percent in Q4 2020) and business investment (-10.7 percent vs 5.9 percent) as a result of the reintroduction of COVID-19 restrictions, while government expenditure increased at a slower pace (1.5 percent vs 6.7 percent) and the trade balance improved as imports fell more than exports. In output terms, the largest contributors to the contraction were from the education, wholesale and retail trade, and accommodation and food services industries. The level of GDP in the UK was 8.8 percent below pre-pandemic levels at the end of 2019. Compared with the same quarter a year ago, the UK economy fell by an unrevised 6.1 percent.
2021-06-30
UK Economy Falls Back into Contraction in Q1
UK gross domestic product shrank by 1.5 percent on quarter in January to March 2021, ending a two-quarter period of growth and compared with market expectations of 1.6 percent contraction, a preliminary estimate showed. Household consumption and business investment declined as a result of the reintroduction of coronavirus restrictions, while government expenditure increased and the trade balance improved, as imports fell more sharply than exports. In output terms, school closures and a large fall in retail sales earlier in the quarter dragged down GDP growth. The level of GDP in the UK was 8.7 percent below where it was prior to the pandemic at the end of 2019. Compared with the same quarter a year ago, when the initial economic impacts of the COVID-19 pandemic began to show, the UK economy fell by 6.1 percent.
2021-05-12
UK GDP Growth Revised Higher to 1.3%
The British economy expanded 1.3% on quarter in the last three months of 2020, higher than 1% in the preliminary estimate. Government expenditure (6.7% vs 6.4% in the first estimate), particularly healthcare and education; business investment (5.9% vs 1.3%) and inventories were revised upwards while household consumption experienced a bigger fall (-1.7% vs -0.2%). Net external demand also contributed negatively to the GDP as imports rose more than exports. Q3 figures were revised up to show a 16.9% growth. Despite two consecutive quarters of growth, the level of GDP was still 7.3% below its pre-pandemic level. The levels of business investment and household consumption remain 7.4% and 9.2% lower than their pre-pandemic levels respectively. The contraction for 2020 was also revised to 9.8%, from the first estimate of a 9.9% decline.
2021-03-31

United Kingdom GDP Growth Rate
The services sector is the most important and account for 79 percent of United Kingdom's 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. Composition of the GDP on the expenditure side: household consumption (65 percent), government expenditure (20 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 28 percent of GDP while imports account for 30 percent, subtracting 2 percent from GDP.