Britain's economy expanded 1.8 percent year-on-year in the first quarter of 2019, up from 1.4 percent in the previous period and in line with market consensus. It has not been stronger since the third quarter of 2017. Household consumption and government spending grew faster, while fixed investment rebounded firmly despite a further decline in business investment. On the other hand, net trade contributed negatively to GDP growth. GDP Annual Growth Rate in the United Kingdom averaged 2.45 percent from 1956 until 2019, reaching an all time high of 9.70 percent in the first quarter of 1973 and a record low of -6.10 percent in the first quarter of 2009.
GDP Annual Growth Rate in the United Kingdom is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in the United Kingdom to stand at 1.30 in 12 months time. In the long-term, the United Kingdom GDP Annual Growth Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.