The British economy advanced 1.3% on quarter in Q3 2021, lower than 5.5% in Q2 and below forecasts of 1.5%. The largest contributors were hospitality (30%), arts and recreation (19.6%) and health (3.5%) following the further easing of restrictions and reopening of the economy, preliminary estimates showed. On the other hand, manufacturing shrank 0.3% as recent supply constraints weighed on the sector, namely manufacture of rubber and plastics, transport equipment (-8.2%), and sales and repair of motor vehicles (-13.3%). Household consumption (2%) also made the largest contribution to expenditure while there was a fall in underlying inventories, likely reflecting some of the recent supply chain challenges, and a negative contribution from net trade due to a fall in exports (-1.9%). The economy is now 2.1% below its pre-pandemic level in the last quarter of 2019. 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 17.40 percent in the third quarter of 2020 and a record low of -19.60 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 December of 2021.

GDP Growth Rate in the United Kingdom is expected to be 0.90 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 Growth Rate is projected to trend around 0.70 percent in 2022 and 0.30 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


Calendar GMT Actual Previous Consensus TEForecast
2021-09-30 06:00 AM QoQ Final Q2 5.5% -1.4% 4.8% 4.8%
2021-11-11 07:00 AM QoQ Prel Q3 1.3% 5.5% 1.5% 1.5%
2021-12-22 07:00 AM QoQ Final Q3 5.5% 1.3% 0.9%


Related Last Previous Unit Reference
GDP Growth Rate 1.30 5.50 percent Sep/21
GDP Annual Growth Rate 6.60 23.60 percent Sep/21
GDP Constant Prices 553412.00 546556.00 GBP Million Sep/21
Gross National Product 572325.00 559321.00 GBP Million Jun/21
Gross Fixed Capital Formation 95269.00 94508.00 GBP Million Sep/21
Economic Activity Index 6.90 8.80 percent Aug/21
GDP From Transport 17664.00 17220.00 GBP Million Jun/21
GDP From Services 392539.00 368673.00 GBP Million Jun/21
GDP From Public Administration 25379.00 25280.00 GBP Million Jun/21
GDP From Mining 3347.00 3980.00 GBP Million Jun/21
GDP From Manufacturing 49036.00 48161.00 GBP Million Jun/21
GDP From Construction 31269.00 30126.00 GBP Million Jun/21
GDP From Agriculture 3146.00 3051.00 GBP Million Jun/21

News Stream
UK GDP Growth Below Forecasts
The British economy advanced 1.3% on quarter in Q3 2021, lower than 5.5% in Q2 and below forecasts of 1.5%. The largest contributors were hospitality (30%), arts and recreation (19.6%) and health (3.5%) following the further easing of restrictions and reopening of the economy, preliminary estimates showed. On the other hand, manufacturing shrank 0.3% as recent supply constraints weighed on the sector, namely manufacture of rubber and plastics, transport equipment (-8.2%), and sales and repair of motor vehicles (-13.3%). Household consumption (2%) also made the largest contribution to expenditure while there was a fall in underlying inventories, likely reflecting some of the recent supply chain challenges, and a negative contribution from net trade due to a fall in exports (-1.9%). The economy is now 2.1% below its pre-pandemic level in the last quarter of 2019.
2021-11-11
UK GDP Growth Revised Much Higher to 5.5% in Q2
The British economy expanded 5.5% on quarter in the second quarter of 2021, well above initial estimates of a 4.8% increase, and rebounding from a 1.4% contraction in the previous period. Household consumption made the largest upward contribution, following the easing of coronavirus restrictions. On the production side, the largest contributors to GDP growth were from wholesale and retail trade, accommodation and food service activities, education and human health, and social work activities. The ONS said the data had been adjusted to take into account of more complete data from the health sector as well as an update of its sources and methodology. Year-on-year, the economy expanded 23.6%, also higher than initial estimates of 22.2%. The level of GDP is now 3.3% below where it was pre-pandemic.
2021-09-30
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

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.