United Kingdom GDP Growth Rate 1955-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 0.30 percent in the first quarter of 2015 over the previous quarter. 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.

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United Kingdom GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.60 5.00 -2.70 1955 - 2015 percent Quarterly
The United Kingdom is the world’s sixth largest economy. Like in the case of many other developed nations, services is the biggest sector of the economy and accounts for more than 75 percent of total GDP. The key segments within Services are Distribution, Transport, Hotels and Restaurants (18 percent of total GDP), Government, Health and Education (20 percent); Professional and Support (11 percent); Financial and Insurance (9 percent) and Real Estate (9 percent). Although the United Kingdom is still one of the biggest manufacturers in the world, production constitutes only 10 percent of the GDP. Last big component of the GDP is Construction, which accounts for around 7 percent of total output. This page provides - United Kingdom GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom GDP Growth Rate - was last refreshed on Wednesday, May 27, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-02-26 09:30 AM Q4 0.5% 0.7% 0.5% 0.5%
2015-03-31 09:30 AM Q4 0.6% 0.6% (R) 0.5% 0.5%
2015-04-28 09:30 AM Q1 0.3% 0.6% 0.5% 0.5%
2015-05-28 09:30 AM Q1 0.6% 0.4% 0.3%
2015-06-30 09:30 AM Q1 0.6%
2015-07-28 09:30 AM Q2 0.65%


UK Q1 GDP Growth Disappoints


The British economy expanded a weaker-than-expected 0.3 percent on quarter in the first three months of 2015, hurt by a slowdown in business, financial services and manufacturing and decline in mining and construction.

It was the weakest growth rate since the last quarter of 2012 when the economy shrank 0.3 percent. Markets were expecting a 0.5 percent expansion in the first quarter. 

In the three months to March 2015, services increased at a slower 0.5 percent, contributing only 0.41 percentage points to GDP growth. Expansion in business services and finance slowed to 0.1 percent from 1.3 percent in the previous period. In the fourth quarter services rose 0.9 percent.

There was a downward contribution (-0.01 percentage points) from the production industries which fell by 0.1 percent. Mining and quarrying decreased by 2.1 percent following an increase of 0.8 percent in Quarter 4 2014 and water and waste management declined by 0.5 percent following a rise of 1.1 percent in the previous three months. Partially offsetting these decreases was a rise of 2.5 percent in energy supply following a decrease of 2.6 percent in Quarter 4 2014 and a rise of 0.1 percent in manufacturing following an increase of 0.2 percent in the December quarter of 2014.

Construction output decreased by 1.6 percent, following a fall of 2.2 percent in Quarter 4 2014.

Year-on-year, the GDP rose 2.4 percent.


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
4/28/2015 10:12:18 AM


Recent Releases

UK GDP Growth Revised Up to 0.6% in Q4
The British economy advanced 0.6 percent on quarter in the last three months of 2014, higher than 0.5 percent estimate released last month and driven by rise in exports. Published on 2015-03-31

UK GDP Growth Confirmed at 0.5% in Q4
The British economy grew 0.5 percent in the last three months of 2014, slowing from a 0.7 percent rise in the previous period, second estimates released by the Office for National Statistics showed. Published on 2015-02-26


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.30 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.40 3.00 9.80 -5.80 percent [+]
GDP Constant Prices 430962.00 429673.00 430962.00 102335.00 GBP Million [+]
Gross National Product 442160.00 438319.00 442160.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 73618.00 73016.00 75836.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 Nov/14 0.40 4.50 -2.00 percent [+]
Brazil 0.30 Nov/14 0.20 4.50 -4.20 percent [+]
Canada 0.60 Nov/14 0.80 3.33 -1.80 percent [+]
China 1.30 Feb/15 1.50 2.50 1.40 percent [+]
Euro Area 0.40 Feb/15 0.30 1.30 -2.90 percent [+]
France 0.60 Feb/15 0.00 1.60 -1.70 percent [+]
Germany 0.30 Feb/15 0.70 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -0.18 Feb/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Feb/15 0.00 6.00 -3.50 percent [+]
Japan 0.60 Feb/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Feb/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.40 Feb/15 0.80 2.00 -2.20 percent [+]
Russia 0.00 Nov/14 0.00 4.10 -5.40 percent [+]
South Korea 0.80 Feb/15 0.30 6.80 -7.00 percent [+]
Spain 0.90 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland 0.60 Nov/14 0.70 1.90 -2.20 percent [+]
Turkey 0.70 Nov/14 0.50 6.69 -7.57 percent [+]
United Kingdom 0.30 Feb/15 0.60 5.00 -2.70 percent [+]
United States 0.20 Feb/15 2.20 16.90 -10.00 percent [+]