United Kingdom GDP Growth Rate  1955-2016 | Data | Chart | Calendar

The British economy advanced 0.5 percent on quarter in the three months to September of 2016, slowing from a 0.7 percent expansion in the previous period and in line with the preliminary estimate. Net external demand was the main driver of growth, while household expenditure and fixed investment rose at a slower pace. Compared to the same period of 2015, the economy expanded 2.3 percent, the biggest gain since the second quarter of 2015. GDP Growth Rate in the United Kingdom averaged 0.61 percent from 1955 until 2016, reaching an all time high of 5.00 percent in the first quarter of 1973 and a record low of -2.70 percent in the first quarter of 1974.

United Kingdom GDP Growth Rate
Receive the next reported value for United Kingdom GDP Growth Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website
Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-30 08:30 AM Q2 0.7% 0.4% 0.6% 0.6%
2016-10-27 08:30 AM Q3 0.5% 0.7% 0.3% 0.3%
2016-11-25 09:30 AM Q3 0.5% 0.7% 0.5% 0.5%
2016-12-22 09:30 AM Q3 0.7%
2017-01-27 09:30 AM Q4 0.52%
2017-02-24 09:30 AM Q4 0.52%




UK Q3 GDP Growth Confirmed at 0.5%


The British economy advanced 0.5 percent on quarter in the three months to September of 2016, slowing from a 0.7 percent expansion in the previous period and in line with the preliminary estimate. Net external demand was the main driver of growth, while household expenditure and fixed investment rose at a slower pace.

From the expenditure side, the largest positive contribution to GDP came from net trade, which contributed a positive 0.7 percentage points, and household final consumption expenditure, which contributed a positive 0.4 percentage points.

The trade balance deficit narrowed to £12.4 billion from £15.7 billion in Q2. Exports increased by 0.7 percent, following a 1 percent drop in the previous period, while imports shrank 1.5 percent following a 1.3 percent gain. 

Total domestic expenditure decreased by 0.2 percent, after expanding by 1.4 percent in the previous period. Household expenditure (+0.7 percent from +0.9 percent in Q2), government spending (+0.4 percent from flat reading); and gross fixed capital formation (+1.1 percent from +1.6 percent), of which business investment (+0.9 percent) grew. Meanwhile, non-profit institutions serving households’ consumption contracted (-0.4 percent from +1.7 percent) and the level of inventories increased by £3.1 billion, following an increase of £3.0 billion in the previous period. 

From the production side, the service industries increased by 0.8 percent following a 0.6 percent gain in Q2 and marking the 15th consecutive quarter of positive growth. Output rose for: Distribution, hotels and catering (+1.1 percent, the same as in the previous period); transport, storage and communication (+2.3 percent from +0.6 percent); business services and finance (+0.3 percent from +0.6 percent); and government and other services (+0.5 percent from +0.1 percent). Industrial output decreased by 0.5 percent (+2.1 percent in Q2), as output declined for: manufacturing (-0.9 percent from +1.6 percent in Q2); electricity, gas, steam and air conditioning supply (-4.3 percent from +4.6 percent); and water supply and sewerage (-0.5 percent from +2.1 percent in Q2). By contrast, output from mining and quarrying (including oil and gas extraction) increased by 4.3 percent (+2.8 percent in Q2). Construction output decreased by 1.1 percent, following a 0.1 percent fall the previous period.

Compared to the same period of 2015, the economy expanded 2.3 percent, the biggest gain since the second quarter of 2015.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/25/2016 10:34:00 AM



United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.70 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.30 2.10 9.80 -6.10 percent [+]
GDP 2848.76 2990.20 2990.20 72.33 USD Billion [+]
GDP Constant Prices 469056.00 466790.00 469056.00 107263.00 GBP Million [+]
Gross National Product 473198.00 464690.00 473198.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 78986.00 78108.00 80420.00 13405.00 GBP Million [+]
GDP per capita 40933.46 40326.82 40933.46 13868.61 USD [+]
GDP per capita PPP 38657.79 38084.87 38657.79 26202.27 USD [+]
GDP From Agriculture 3164.00 3185.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 25574.00 25939.00 26013.00 20035.00 GBP Million [+]
GDP From Manufacturing 40945.00 41356.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 8061.00 7660.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18961.00 19006.00 22274.00 18888.00 GBP Million [+]
GDP From Services 333794.00 331121.00 333794.00 171542.00 GBP Million [+]
GDP From Transport 17837.00 17823.00 18739.00 9402.00 GBP Million [+]



United Kingdom GDP Growth Rate Notes

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. Composition of the GDP on the expenditure side: household consumption (65 percent), government expenditure (20 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 28 percent of GDP while imports account for 30 percent, subtracting 2 percent from GDP. This page provides the latest reported value for - United Kingdom GDP 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 Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.70 5.00 -2.70 1955 - 2016 percent Quarterly



Last
Nigeria 8.99 Sep/16
Bangladesh 7.05 Dec/16
Venezuela 6.80 Dec/13
Vietnam 6.40 Sep/16
Angola 4.90 Dec/15
Egypt 4.90 Mar/16
Iceland 4.70 Sep/16
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Algeria 4.00 Dec/14
Macedonia 3.90 Mar/14
United Arab Emirates 3.90 Dec/15
Indonesia 3.20 Sep/16
United States 3.20 Sep/16
Sri Lanka 2.60 Jun/16
Qatar 2.50 Jun/16
Peru 2.00 Sep/16
China 1.80 Sep/16
Kenya 1.80 Jun/16
Costa Rica 1.75 Mar/16
Jamaica 1.60 Jun/16
Luxembourg 1.60 Jun/16
El Salvador 1.55 Dec/15
Malaysia 1.50 Sep/16
Tanzania 1.50 Sep/10
India 1.40 Jun/16
Mongolia 1.40 Jun/16
Saudi Arabia 1.40 Jun/16
Uganda 1.40 Jun/16
Kazakhstan 1.26 Dec/13
Bahrain 1.20 Jun/16
Philippines 1.20 Sep/16
Mexico 1.00 Sep/16
Slovenia 1.00 Sep/16
Taiwan 0.96 Sep/16
Albania 0.90 Jun/16
Canada 0.90 Sep/16
New Zealand 0.90 Jun/16
Greece 0.80 Sep/16
Israel 0.80 Sep/16
Portugal 0.80 Sep/16
Bulgaria 0.70 Sep/16
Cyprus 0.70 Sep/16
Netherlands 0.70 Sep/16
Slovakia 0.70 Sep/16
Spain 0.70 Sep/16
Chile 0.60 Sep/16
Ecuador 0.60 Jun/16
Ghana 0.60 Jun/16
Hong Kong 0.60 Sep/16
Ireland 0.60 Jun/16
Moldova 0.60 Jun/16
Romania 0.60 Sep/16
South Korea 0.60 Sep/16
Thailand 0.60 Sep/16
Bosnia and Herzegovina 0.50 Jun/16
Croatia 0.50 Jun/16
Paraguay 0.50 Sep/16
Sweden 0.50 Sep/16
United Kingdom 0.50 Sep/16
Austria 0.40 Sep/16
Denmark 0.40 Sep/16
European Union 0.40 Sep/16
Finland 0.40 Sep/16
Ukraine 0.40 Sep/16
Cameroon 0.30 Mar/16
Colombia 0.30 Sep/16
Euro Area 0.30 Sep/16
Hungary 0.30 Sep/16
Italy 0.30 Sep/16
Japan 0.30 Sep/16
Turkey 0.30 Jun/16
Belgium 0.20 Sep/16
Czech Republic 0.20 Sep/16
Estonia 0.20 Sep/16
France 0.20 Sep/16
Germany 0.20 Sep/16
Latvia 0.20 Sep/16
Malta 0.20 Jun/16
Mozambique 0.20 Sep/16
Poland 0.20 Sep/16
South Africa 0.20 Sep/16
Tunisia 0.20 Sep/16
Lithuania 0.10 Sep/16
Belize 0.05 Jun/16
Serbia 0.00 Jun/16
Switzerland 0.00 Sep/16
Uruguay 0.00 Jun/16
Australia -0.50 Sep/16
Mauritius -0.50 Jun/16
Norway -0.50 Sep/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Brazil -0.80 Sep/16
Botswana -1.30 Jun/16
Rwanda -1.40 Jun/16
Dominican Republic -1.67 Mar/16
Singapore -2.00 Sep/16
Argentina -2.10 Jun/16
Senegal -2.50 Jun/16
Trinidad And Tobago -3.90 Mar/16
Namibia -6.20 Jun/16