UK gross domestic product rose by 1.4 percent year-on-year in March 2021, the first month of growth since January 2020 and better than market expectations of a 1.0 percent increase. On a month-on-month basis, GDP rose by 2.1 percent, the fastest monthly growth since August 2020 and well above forecasts of a 1.3 percent increase, as some COVID-19 restrictions began to ease. The service sector grew by 1.9 percent, with schools re-opening across England and Wales and retail trade sales continuing to show strength; while industrial activity rose by 1.8 percent, as manufacturing increased for a second consecutive month. The construction sector advanced by 5.8 percent, driven by growth in both new work and repair and maintenance. Still, March’s GDP was 5.9 percent below the levels seen in February 2020, and 1.1 percent below the initial recovery peak in October 2020. source: Office for National Statistics
Economic Activity Index in the United Kingdom averaged 1.45 percent from 1998 until 2021, reaching an all time high of 5.80 percent in December of 2005 and a record low of -24.40 percent in April of 2020. This page provides - United Kingdom GDP YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom GDP YoY - values, historical data and charts - was last updated on May of 2021.
Economic Activity Index in the United Kingdom is expected to be 15.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Economic Activity Index in the United Kingdom to stand at 4.00 in 12 months time. In the long-term, the United Kingdom GDP YoY is projected to trend around 6.50 percent in 2022 and 1.70 percent in 2023, according to our econometric models.