UK Annual GDP Growth Confirmed at 1.2% in Q1


The British economy advanced 1.2 percent year-on-year in the first three months of 2018, slowing from a 1.4 percent rise in the previous quarter and matching the preliminary estimate. It is the lowest annual growth rate since the second quarter of 2012 amid a slowdown in household spending, business investment and exports, the second estimate showed.

Household spending increased 1.1 percent in Q1, below 1.2 percent in Q4 and consumption of non-profit institutions shrank 0.9 percent after a 0.1 percent gain. 

Gross fixed capital formation rose at a faster 4.3 percent (4 percent in Q4) although business investment growth slowed to 2 percent (2.6 percent in Q4).

Both exports (2.3 percent compared to 2.7 percent in Q4) and imports (1.6 percent compared to 3.1 percent) rose less.

On the other hand, government spending growth accelerated (1.2 percent compared to 0.6 percent). 

On a quarterly basis, the economy expanded a meager 0.1 percent, the lowest growth rate since a 0.1 percent contraction in Q4 2012.

UK Annual GDP Growth Confirmed at 1.2% in Q1


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
5/25/2018 9:48:50 AM