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

The gross domestic product in the United Kingdom expanded 1.3 percent year-on-year in the second quarter of 2018, little-changed from a near six-year low of 1.2 percent in the previous period and matching market expectations. Household consumption rose the least since the first quarter of 2012. GDP Annual Growth Rate in the United Kingdom averaged 2.45 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 GDP Grows 1.2% in Q2


The gross domestic product in the United Kingdom expanded 1.3 percent year-on-year in the second quarter of 2018, little-changed from a near six-year low of 1.2 percent in the previous period and matching market expectations. Household consumption rose the least since the first quarter of 2012.

On the expenditure side, household expenditure rose 1.1 percent in the second quarter (vs 1.2 percent in Q1), the weakest pace of growth since the first quarter of 2012; and gross fixed capital formation went up 0.7 percent (vs 1.5 percent in Q1) as business investment growth eased to 0.8 percent (vs 2 percent in Q1). Also, government spending grew by 1.1 percent, slower than 1.2 percent in the previous period.

Exports fell 1.8 percent, following a 2.4 percent gain in Q1; while imports declined at a slower 0.6 percent, after increasing by 0.6 percent the previous period. As a result, the trade deficit widened to £7.244 billion from £5.563 billion in Q2 2017. 

On the production side, the service industries expanded 1.5 percent (vs 1.2 percent in Q1), as output rose for: distribution, hotels and restaurants (1.5 percent vs 0.9 percent); transport storage and communications (3.4 percent vs 2.9 percent); business services and finance (1.7 percent vs 1.6 percent); and government and other services (0.2 percent vs 0.1 percent). Industrial production went up 1.4 percent (vs 2.4 percent in Q1), as output rose for: manufacturing (1.3 percent vs 2.5 percent); mining and quarrying (0.3 percent vs -0.1 percent); electricity, gas, steam and air conditioning supply (0.8 percent vs 4.1 percent); and water supply, sewerage, waste management and remediation activities (3.9 percent vs 1.3 percent). Construction expansion picked up to 0.8 percent from 0.3 percent in Q1.


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/10/2018 9:21:17 AM



Calendar GMT Actual Previous Consensus TEForecast
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 1.3% 1.2% 1.2% 1.4%
2018-09-28 08:30 AM GDP Growth Rate YoY Final 1.2% 1.3% 1.3%
2018-11-09 09:30 AM GDP Growth Rate YoY Prel 1.4%
2018-12-21 09:30 AM GDP Growth Rate YoY Final


United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.20 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.30 1.20 9.70 -6.10 percent [+]
GDP 2622.43 2650.85 3074.36 72.33 USD Billion [+]
GDP Constant Prices 506029.00 504195.00 506029.00 111480.00 GBP Million [+]
Gross National Product 511762.00 505883.00 511762.00 4755.00 GBP Million [+]
Gross Fixed Capital Formation 86324.00 85609.00 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 2909.00 2910.00 3074.00 2214.00 GBP Million [+]
GDP From Construction 28198.00 27948.00 28198.00 19264.00 GBP Million [+]
GDP From Manufacturing 45358.00 45786.00 46560.00 40088.00 GBP Million [+]
GDP From Mining 4607.00 4577.00 10332.00 3984.00 GBP Million [+]
GDP From Public Administration 20674.00 20710.00 24234.00 20573.00 GBP Million [+]
GDP From Services 360420.00 358521.00 360420.00 178666.00 GBP Million [+]
GDP From Transport 19323.00 19103.00 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 September of 2018.

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




GDP annual growth rate by Country
Country Last
India 8.20 Jun/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Turkey 5.20 Jun/18
Singapore 3.90 Jun/18
Argentina 3.60 Mar/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
Netherlands 2.90 Jun/18
United States 2.90 Jun/18
South Korea 2.80 Jun/18
Spain 2.70 Jun/18
Mexico 2.60 Jun/18
Euro Area 2.10 Jun/18
Germany 2.00 Jun/18
Canada 1.90 Jun/18
Russia 1.90 Jun/18
France 1.70 Jun/18
United Kingdom 1.30 Jun/18
Italy 1.20 Jun/18
Saudi Arabia 1.15 Mar/18
Brazil 1.00 Jun/18
Japan 1.00 Jun/18
South Africa 0.40 Jun/18


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