United Kingdom GDP Annual Growth Rate  1956-2018 | Data | Chart | Calendar

The gross domestic product in the United Kingdom expanded 1.2 percent year-on-year in the first quarter of 2018, unrevised from the second estimate and following a downwardly revised 1.3 percent growth in the previous period. It was the weakest pace of expansion since the second quarter of 2012, due to a slowdown in both household consumption and fixed investment. GDP Annual Growth Rate in the United Kingdom averaged 2.46 percent from 1956 until 2018, 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.

United Kingdom GDP Annual Growth Rate
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UK Q1 GDP Annual Growth Confirmed at Near 6-Year Low


The gross domestic product in the United Kingdom expanded 1.2 percent year-on-year in the first quarter of 2018, unrevised from the second estimate and following a downwardly revised 1.3 percent growth in the previous period. It was the weakest pace of expansion since the second quarter of 2012, due to a slowdown in both household consumption and fixed investment.

On the expenditure side, household expenditure rose at a softer 1.2 percent in the first quarter, compared with 1.5 percent in Q4; and gross fixed capital formation went up at a slower 1.5 percent (vs 4 percent in Q4) as business investment growth eased to 2 percent (vs 2.3 percent in Q4). Meanwhile, government spending grew by 1.2 percent, faster than 0.2 percent in the previous period.

Exports jumped 2.4 percent, following a 3.2 percent gain in Q4; while imports rose at a slower 0.6 percent, after increasing by 1.7 percent the previous period. As a result, the trade deficit narrowed to £3.174 billion from £5.711 billion in Q1 2017. 

On the production side, the service industries expanded 1.2 percent (vs 1.3 percent in Q4), as output rose for: distribution, hotels and restaurants (0.9 percent vs 0.5 percent); transport storage and communications (2.9 percent, the same as in Q4); business services and finance (2 percent vs 2.3 percent); and government and other services (0.1 percent, the same as in Q4). Industrial production went up 2.4 percent (vs 2.3 percent in Q4), as output rose for: manufacturing (2.5 percent vs 3.1 percent); electricity, gas, steam and air conditioning supply (4.1 percent vs -1.4 percent); and water supply, sewerage, waste management and remediation activities (1.3 percent vs 1.8 percent). By contrast, mining and quarrying fell 0.1 percent (vs 0.9 percent in Q4). Construction expansion slowed to 0.3 percent from 4.4 percent in Q4.


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/29/2018 9:39:55 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-04-27 08:30 AM GDP Growth Rate YoY Prel 1.2% 1.4% 1.4% 1.5%
2018-05-25 08:30 AM GDP Growth Rate YoY 2nd Est 1.2% 1.4% 1.4% 1.2%
2018-06-29 08:30 AM GDP Growth Rate YoY Final 1.2% 1.3% 1.2% 1.2%
2018-08-10 08:30 AM GDP Growth Rate YoY Prel 1.2% 1.4%
2018-09-28 08:30 AM GDP Growth Rate YoY Final 1.2%
2018-11-09 09:30 AM GDP Growth Rate YoY Prel 1.4%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.40 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.20 1.30 9.70 -6.10 percent [+]
GDP 2622.43 2650.85 3074.36 72.33 USD Billion [+]
GDP Constant Prices 504195.00 503014.00 504195.00 111480.00 GBP Million [+]
Gross National Product 511762.00 505883.00 511762.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 85609.00 86778.00 86778.00 13572.00 GBP Million [+]
GDP per capita 42514.49 42039.74 42514.49 13827.45 USD [+]
GDP per capita PPP 39753.24 39309.33 39753.24 26454.41 USD [+]
GDP From Agriculture 2910.00 2955.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 27948.00 28185.00 28185.00 19264.00 GBP Million [+]
GDP From Manufacturing 45786.00 45813.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4577.00 4467.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20710.00 20715.00 24234.00 20573.00 GBP Million [+]
GDP From Services 358521.00 357484.00 358521.00 178666.00 GBP Million [+]
GDP From Transport 19103.00 19355.00 19874.00 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 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.30 9.70 -6.10 1956 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.70 Jun/18
Indonesia 5.06 Mar/18
Australia 3.10 Mar/18
Spain 3.00 Mar/18
Netherlands 2.80 Mar/18
South Korea 2.80 Mar/18
United States 2.80 Mar/18
Euro Area 2.50 Mar/18
Canada 2.30 Mar/18
Germany 2.30 Mar/18
France 2.20 Mar/18
Switzerland 2.20 Mar/18
Italy 1.40 Mar/18
Mexico 1.30 Mar/18
Russia 1.30 Mar/18
Brazil 1.20 Mar/18
United Kingdom 1.20 Mar/18
Japan 1.10 Mar/18


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