The gross domestic product in the United Kingdom grew 1.8 percent year-on-year in the first quarter of 2019, unrevised from the first estimate and up from 1.4 percent in the previous period. That was the strongest pace of expansion since the third quarter of 2017. 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 1.10 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.

United Kingdom GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-11 09:30 AM GDP Growth Rate YoY Prel 1.3% 1.6% 1.4% 1.3%
2019-03-29 09:30 AM GDP Growth Rate YoY Final 1.4% 1.6% 1.3% 1.3%
2019-05-10 08:30 AM GDP Growth Rate YoY Prel 1.8% 1.4% 1.8% 1.8%
2019-06-28 08:30 AM GDP Growth Rate YoY Final 1.8% 1.4% 1.8% 1.8%
2019-08-09 08:30 AM GDP Growth Rate YoY Prel 1.8% 1.1%
2019-09-30 08:30 AM GDP Growth Rate YoY Final 1.8% 1.1%
2019-11-11 09:30 AM GDP Growth Rate YoY Prel 1.3%



UK GDP Annual Growth Confirmed at 1-1/2-Year High

The gross domestic product in the United Kingdom grew 1.8 percent year-on-year in the first quarter of 2019, unrevised from the first estimate and up from 1.4 percent in the previous period. That was the strongest pace of expansion since the third quarter of 2017.

On the expenditure side, household expenditure rose 1.9 percent in the first quarter (vs 1.7 percent in Q4); and government spending advanced 1.6 percent (vs 1.0 percent in Q4). In addition, fixed investment surged 0.9 percent (vs -1.1 percent in Q4) despite a further decline in business investment (-1.5 percent vs -2.5 percent).

Imports jumped 14.3 percent, following a 2.6 percent increase in Q4; while exports rose at a much slower 3.0 percent, after a 0.2 percent gain in the previous period. As a result, the trade deficit widened sharply to £21.582 billion, the widest deficit on record, from £4.268 billion in Q1 2018.

On the production side, the service industries expanded 2.1 percent (vs 2.0 percent in Q4), as output rose for: distribution, hotels and restaurants (4.4 percent vs 3.5 percent); transport storage and communications (4.8 percent vs 3.9 percent); business services and finance (0.8 percent vs 1.4 percent); and government and other services (1.2 percent vs 1.1 percent). Industrial production rebounded 0.3 percent (vs -0.7 percent in Q4), as output grew for manufacturing (0.9 percent vs -1.3 percent), mining & quarrying (4.9 percent vs 8.7 percent), and water supply, sewerage, waste management and remediation activities (0.5 percent vs -0.7 percent). By contrast, utilities output contracted for the fourth straight period (-6.3 percent vs -2.5 percent). Construction expansion accelerated to 3.2 percent from 0.3 percent in Q4.


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/28/2019 9:22:55 AM



United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.20 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.80 1.40 9.70 -6.10 percent [+]
GDP 2825.21 2637.87 3084.12 72.33 USD Billion [+]
GDP Constant Prices 514019.00 511482.00 514019.00 111480.00 GBP Million [+]
Gross National Product 537794.00 527584.00 537794.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 86756.00 85712.00 86756.00 13572.00 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 2843.00 2884.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 28683.00 28286.00 28683.00 19264.00 GBP Million [+]
GDP From Manufacturing 46130.00 45256.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4832.00 4789.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20852.00 20942.00 24234.00 20573.00 GBP Million [+]
GDP From Services 367205.00 365834.00 367205.00 178666.00 GBP Million [+]
GDP From Transport 20076.00 20043.00 20076.00 10071.00 GBP Million [+]


United Kingdom GDP Annual Growth Rate

The United Kingdom is the sixth largest economy in the world and the second largest in Europe after Germany. The Services sector is the most important and accounts for 79 percent to total 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. This page provides the latest reported value for - United Kingdom GDP Annual 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 Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.80 1.40 9.70 -6.10 1956 - 2019 percent Quarterly
SA




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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