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

The British economy advanced 0.5 percent on quarter in the last three months of 2015, accelerating from a 0.4 percent growth in the previous period and in line with market expectations, preliminary estimates showed. Considering full 2015, the GDP grew 2.2 percent, lower than 2.9 percent in 2014. GDP Growth Rate in the United Kingdom averaged 0.61 percent from 1955 until 2015, 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
0.50 0.40 5.00 -2.70 1955 - 2015 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-27 09:30 AM Q3 0.5% 0.7% 0.5% 0.5%
2015-12-23 09:30 AM Q3 0.4% 0.5% 0.5% 0.5%
2016-01-28 09:30 AM Q4 0.5% 0.4% 0.5% 0.5%
2016-02-25 09:30 AM Q4 0.4% 0.5% 0.5%
2016-03-31 08:30 AM Q4 0.4% 0.5%
2016-04-27 08:30 AM Q1 0.49%

UK GDP Expands 0.5% in Q4


The British economy advanced 0.5 percent on quarter in the last three months of 2015, accelerating from a 0.4 percent growth in the previous period and in line with market expectations, preliminary estimates showed. Services contributed 0.52 percentage point to the expansion while industry subtracted 0.03 percentage point.

Services advanced by 0.7 percent, following a 0.6 percent growth in the previous period. The main reason behind stronger expansion in services was 0.9 percent growth in business services and finance (0.6 percent in Q3). 
Industry fell by 0.2 percent, with mining and quarrying shrinking by 1.4 percent (+2.6 percent in Q3); water and waste management decreasing by 0.4 percent (+0.3 percent in Q3) and energy supply falling by 0.2 percent (+1 percent in Q3). In contrast, manufacturing remained unchanged, following a decrease of 0.4 percent in Q3. There was a downward contribution from construction (0.01 percentage points), which fell by 0.1 percent (-1.9 percent in Q3).

Year-on-year, the economy expanded 1.9 percent in the last three months of 2015, slowing from a 2.1 percent growth in the September quarter, the lowest in nearly three years. 

Considering full 2015, the GDP grew 2.2 percent, lower than 2.9 percent in 2014.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
1/28/2016 11:52:41 AM

United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.40 5.00 -2.70 percent [+]
GDP Annual Growth Rate 1.90 2.10 9.80 -5.90 percent [+]
GDP 2988.89 2712.30 2988.89 72.33 USD Billion [+]
GDP Constant Prices 450239.00 447999.00 450239.00 103840.00 GBP Million [+]
Gross National Product 464785.00 458087.00 464785.00 4726.00 GBP Million [+]
Gross Fixed Capital Formation 77415.00 76848.00 78763.00 13331.00 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 2953.00 2936.00 3009.00 2156.00 GBP Million [+]
GDP From Construction 24333.00 24365.00 25502.00 19510.00 GBP Million [+]
GDP From Manufacturing 38624.00 38622.00 41618.00 35763.00 GBP Million [+]
GDP From Mining 7815.00 7924.00 17696.00 6875.00 GBP Million [+]
GDP From Public Administration 18788.00 18786.00 21418.00 18052.00 GBP Million [+]
GDP From Services 320602.00 318505.00 320602.00 162406.00 GBP Million [+]
GDP From Transport 17664.00 17747.00 18468.00 10264.00 GBP Million [+]




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