Britain's quarterly economic growth was revised slightly higher to 0.4 percent in the third quarter of 2019, from a preliminary estimate of 0.3 percent, as net trade made a larger positive contribution than previously estimated. The expansion was also supported by household consumption, while gross capital formation and government expenditure contributed negatively to GDP growth. GDP Growth Rate in the United Kingdom averaged 0.61 percent from 1955 until 2019, reaching an all time high of 5 percent in the first quarter of 1973 and a record low of -2.70 percent in the first quarter of 1974. source: Office for National Statistics

GDP Growth Rate in the United Kingdom is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in the United Kingdom to stand at 0.40 in 12 months time. In the long-term, the United Kingdom GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

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United Kingdom GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 -0.20 5.00 -2.70 1955 - 2019 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-08-09 08:30 AM GDP Growth Rate QoQ Prel Q2 -0.2% 0.5% 0% -0.1%
2019-09-30 08:30 AM GDP Growth Rate QoQ Final Q2 -0.2% 0.6% -0.2% -0.2%
2019-11-11 09:30 AM GDP Growth Rate QoQ Prel Q3 0.3% -0.2% 0.4% 0.4%
2019-12-20 09:30 AM GDP Growth Rate QoQ Final Q3 0.4% -0.2% 0.3% 0.3%
2020-02-11 09:30 AM GDP Growth Rate QoQ Prel Q4 0.4% 0.0%


News Stream
2019-11-11
UK Economy Rebounds in Q3
Britain's economy grew 0.3 percent in the third quarter of 2019, recovering from a 0.2 percent contraction in the previous three-month period and missing market expectations of a 0.4 percent expansion, a preliminary estimate showed. Year-on-year, the economy grew 1 percent, the weakest pace of expansion since the first quarter of 2010.

2019-09-30
UK GDP Contraction Confirmed in Q2
UK gross domestic product fell 0.2 percent in the second quarter of 2019, unrevised from the previous estimate and compared to the previous period's figure of 0.6 percent. Gross capital formation contracted sharply, while private consumption, government spending and net trade contributed positively to GDP growth. On the production side, industrial output fell the most since the fourth quarter of 2012.

2019-08-09
UK Economy Suffers 1st Contraction in Nearly 7 Years
Britain's economy shrank 0.2 percent in the second quarter of 2019, compared to forecasts that had pointed to stagnation and following a 0.5 percent growth in the previous three-month period, a preliminary estimate showed. That was the first quarter of contraction since the last quarter of 2012.

2019-06-28
UK Q1 GDP Growth Confirmed at 0.5%
Britain's quarterly economic growth was confirmed at 0.5 percent in the first quarter of 2019, above the previous three-month period's figure of 0.2 percent. Household expenditure, government consumption and investment contributed positively to GDP growth, while net trade contributed negatively.

2019-05-10
UK GDP Growth Accelerates to 0.5% in Q1
The UK economy grew by 0.5 percent on quarter in the first three months of 2019, accelerating from a 0.2 percent expansion in the previous period and matching market expectations, a preliminary estimate showed. Private consumption, government consumption and gross capital formation contributed positively, while net trade contributed negatively to GDP growth.

2019-03-29
UK Q4 GDP Growth Confirmed at 0.2%
Britain's quarterly economic growth was confirmed at 0.2 percent in the three months to December 2018, below the previous three-month period's revised figure of 0.7 percent. Household consumption and government spending supported the expansion, while gross capital formation and net trade contributed negatively to GDP growth.


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.

United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 -0.20 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.10 1.20 9.80 -5.80 percent [+]
GDP 2825.21 2637.87 3084.12 72.33 USD Billion [+]
GDP Constant Prices 522525.00 520356.00 522525.00 112194.00 GBP Million [+]
Gross National Product 548011.00 546146.00 548011.00 4691.00 GBP Million [+]
Gross Fixed Capital Formation 87746.00 87601.00 88201.00 13983.00 GBP Million [+]
GDP per capita 42986.00 42669.60 42986.00 13827.40 USD [+]
GDP per capita PPP 40158.00 39862.30 40158.00 26303.10 USD [+]
GDP From Agriculture 3003.00 3011.00 3251.00 2292.00 GBP Million [+]
GDP From Construction 29262.00 29082.00 29429.00 20732.00 GBP Million [+]
GDP From Manufacturing 45925.00 45925.00 47595.00 40101.00 GBP Million [+]
GDP From Mining 3004.00 3056.00 6963.00 2713.00 GBP Million [+]
GDP From Public Administration 22489.00 22499.00 25471.00 21629.00 GBP Million [+]
GDP From Services 374073.00 372728.00 374073.00 182006.00 GBP Million [+]
GDP From Transport 19432.00 19417.00 19767.00 10359.00 GBP Million [+]
Economic Activity Index 0.60 1.00 5.80 -6.00 percent [+]