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

The UK’s economy expanded 0.4 percent on quarter in the first three months of 2016, in line with preliminary estimates and slowing from an upwardly revised 0.7 percent expansion in the last quarter of 2015. Consumer spending was the main driver of growth while business investment shrank more than expected and exports declined the most in six quarters ahead of the Brexit vote, final figures showed. GDP Growth Rate in the United Kingdom averaged 0.61 percent from 1955 until 2016, reaching an all time high of 5 percent in the first quarter of 1973 and a record low of -2.70 percent in the first quarter of 1974. GDP Growth Rate in the United Kingdom is reported by the Office for National Statistics.

United Kingdom GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.70 5.00 -2.70 1955 - 2016 percent Quarterly
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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-27 08:30 AM Q1 0.4% 0.6% 0.4% 0.5%
2016-05-26 08:30 AM Q1 0.4% 0.6% 0.4% 0.4%
2016-06-30 08:30 AM Q1 0.4% 0.7% 0.4% 0.4%
2016-07-27 08:30 AM Q2 0.4% 0.3%
2016-08-26 08:30 AM Q2 0.4%
2016-09-30 08:30 AM Q2 0.4%

UK GDP Grows 0.4% in Q1 ahead of Brexit Vote


The UK’s economy expanded 0.4 percent on quarter in the first three months of 2016, in line with preliminary estimates and slowing from an upwardly revised 0.7 percent expansion in the last quarter of 2015. Consumer spending was the main driver of growth while business investment shrank more than expected and exports declined the most in six quarters, final figures showed.

Household spending advanced 0.7 percent, the same as in the second estimate and higher than a 0.6 percent growth in the previous quarter. Government spending increased at a faster 0.5 percent, higher than a 0.4 percent rise in the second estimate and 0.2 percent in the previous period. Consumption of nonprofit institutions serving households also increased at a faster 1.7 percent (0.3 percent in the second estimate and 0.5 percent in the previous period). 

In contrast, gross fixed capital formation fell 0.1 percent, compared to a 0.5 percent growth in the second estimate and a 1 percent drop in the previous quarter. The main contributor to the fall was investment in other buildings and structures and transfer costs, down 4.6 percent (-0.7 percent in the second estimate). Business investment declined more than anticipated by 0.6 percent compared to a 0.5 percent decline in the second estimate.

Exports shrank 0.4 percent, more than initially estimated (-0.3 percent) and following a 3.2 percent jump in the previous quarter. It is the biggest decline since the third quarter of 2014 when sales declined 1.3 percent. Imports edged up 0.1 percent, much less than an earlier estimate of a 0.8 percent growth and a 2.5 percent rise in the previous period. As a result, the trade deficit widened to a one-year high of GBP 14.1 billion. 

On a yearly basis, the UK's economy expanded 2 percent, also in line with earlier estimates and compared to a downwardly revised 1.8 percent growth in the previous period. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
6/30/2016 11:38:14 AM

United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.70 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.00 1.80 9.80 -6.10 percent [+]
GDP 2849.35 2991.69 2991.69 72.33 USD Billion [+]
GDP Constant Prices 464212.00 462139.00 464212.00 107263.00 GBP Million [+]
Gross National Product 459327.00 454597.00 461825.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 77059.00 77099.00 80420.00 13405.00 GBP Million [+]
GDP per capita 40967.70 40199.32 41567.28 13478.88 USD [+]
GDP per capita PPP 37613.54 36908.06 38164.02 26016.61 USD [+]
GDP From Agriculture 2943.00 2953.00 3009.00 2156.00 GBP Million [+]
GDP From Construction 24299.00 24333.00 25502.00 19510.00 GBP Million [+]
GDP From Manufacturing 38443.00 38624.00 41618.00 35763.00 GBP Million [+]
GDP From Mining 7583.00 7815.00 17696.00 6875.00 GBP Million [+]
GDP From Public Administration 18776.00 18788.00 21418.00 18052.00 GBP Million [+]
GDP From Services 323700.00 320602.00 323700.00 162406.00 GBP Million [+]
GDP From Transport 17622.00 17664.00 18468.00 10264.00 GBP Million [+]




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Hong Kong -0.40 Mar/16
Greece -0.50 Mar/16
Iceland -0.50 Mar/16
Qatar -0.50 Dec/15
Russia -0.57 Sep/15
Trinidad And Tobago -0.60 Dec/15
Argentina -0.70 Mar/16
Ukraine -0.70 Mar/16
Hungary -0.80 Mar/16
South Africa -1.20 Mar/16
Kenya -1.40 Mar/16
Namibia -1.60 Mar/16
Nigeria -13.70 Mar/16
Senegal -14.10 Mar/16