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.