United Kingdom GDP Growth Rate  1955-2017 | Data | Chart | Calendar

The British economy advanced 0.6 percent on quarter in the three months to September of 2016, the same as in the previous period and better than the second estimate of 0.5 percent expansion. Household expenditure continued to grow while fixed investment rose at a slower pace and net external demand contributed negatively. Compared with the same period of 2015, the economy advanced 2.2 percent following a downwardly revised 2 percent expansion in the precedent quarter and missing the second estimate of 2.3 percent gain. 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.

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)
2016-10-27 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%
2016-12-23 09:30 AM Q3 0.6% 0.6% 0.5% 0.5%
2017-01-26 09:30 AM Q4 0.6% 0.5% 0.4%
2017-02-23 09:30 AM Q4 0.6% 0.4%
2017-03-31 08:30 AM Q4 0.6% 0.4%




UK Q3 GDP Growth Revised Up To 0.6%


The British economy advanced 0.6 percent on quarter in the three months to September of 2016, the same as in the previous period and better than the second estimate of 0.5 percent expansion. Household expenditure continued to grow while fixed investment rose at a slower pace and net external demand contributed negatively. Compared with the same period of 2015, the economy advanced 2.2 percent following a downwardly revised 2 percent expansion in the precedent quarter and missing the second estimate of 2.3 percent gain.

From the expenditure side, the largest positive contribution to GDP came from gross capital formation, which contributed a positive 1.3 percentage points, and household final consumption expenditure, which contributed a positive 0.5 percentage points, final figures showed. Net external demand subtracted 1.2 percentage points to growth.

Total domestic expenditure grew by 1.8 percent, after expanding by 0.3 percent in the previous period. Growth was recorded for: Household expenditure (+0.7 percent from +0.7 percent in Q2); and gross fixed capital formation (+0.9 percent from +1.1 percent), of which business investment (+0.6 percent). Meanwhile, government spending showed no growth (from -0.1 percent in Q2), non-profit institutions serving households’ consumption contracted 0.4 percent (from +1.7 percent in Q2) and the level of inventories increased by £1.6 billion, following an increase of £0.9 billion in the previous period. 

The trade balance deficit widened to £16.7 billion from £11.0 billion in Q2. Exports decreased by 2.6 percent, following a 1.4 percent rise in the previous period, while imports increased by 1.4 percent following a 0.4 percent gain. 

From the production side, the service industries increased by 1 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 from +0.9 percent in Q2); transport, storage and communication (+2.6 percent from +0.4 percent); business services and finance (+0.8 percent, the same as in Q2); and government and other services (+0.4 percent from +0.1 percent). Industrial output decreased by 0.4 percent (+2.1 percent in Q2), as output declined for: manufacturing (-0.8 percent from +1.6 percent in Q2); electricity, gas, steam and air conditioning supply (-4.2 percent from +4.6 percent); and water supply and sewerage (-0.1 percent from +2.3 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 0.8 percent, following a 0.5 percent increase the previous period.

Compared to the same period of 2015, the economy expanded 2.2 percent, the biggest gain since the second quarter of 2015.

ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/23/2016 10:30:47 AM



United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.20 2.00 9.80 -6.10 percent [+]
GDP 2858.00 2998.83 3063.01 72.33 USD Billion [+]
GDP Constant Prices 468771.00 466154.00 468771.00 107263.00 GBP Million [+]
Gross National Product 482897.00 475301.00 482897.00 4748.00 GBP Million [+]
Gross Fixed Capital Formation 78402.00 77718.00 80420.00 13405.00 GBP Million [+]
GDP per capita 41187.68 40620.02 41187.68 13868.61 USD [+]
GDP per capita PPP 38865.59 38329.92 38865.59 26629.01 USD [+]
GDP From Agriculture 3154.00 3175.00 3267.00 2350.00 GBP Million [+]
GDP From Construction 26025.00 26245.00 26245.00 20035.00 GBP Million [+]
GDP From Manufacturing 40921.00 41260.00 43548.00 37451.00 GBP Million [+]
GDP From Mining 7991.00 7659.00 16722.00 6493.00 GBP Million [+]
GDP From Public Administration 18945.00 19016.00 22274.00 18888.00 GBP Million [+]
GDP From Services 334410.00 331233.00 334410.00 171542.00 GBP Million [+]
GDP From Transport 17784.00 17747.00 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.60 5.00 -2.70 1955 - 2016 percent Quarterly



Last
Singapore 9.10 Dec/16
Nigeria 8.99 Sep/16
Bangladesh 7.05 Dec/16
Venezuela 6.80 Dec/13
Vietnam 6.68 Dec/16
Namibia 6.00 Sep/16
Egypt 4.90 Mar/16
Rwanda 4.80 Sep/16
Iceland 4.70 Sep/16
Cape Verde 4.50 Dec/14
Morocco 4.50 Dec/15
Pakistan 4.24 Dec/15
Sri Lanka 4.10 Sep/16
Algeria 4.00 Dec/14
Ireland 4.00 Sep/16
Macedonia 3.90 Mar/14
United Arab Emirates 3.90 Dec/15
Qatar 3.60 Sep/16
United States 3.50 Sep/16
Indonesia 3.20 Sep/16
Mauritius 3.10 Sep/16
Angola 3.00 Dec/16
Peru 2.00 Sep/16
India 1.80 Sep/16
Bahrain 1.70 Sep/16
China 1.70 Dec/16
Croatia 1.70 Sep/16
Malaysia 1.50 Sep/16
Tanzania 1.50 Sep/10
Mongolia 1.40 Jun/16
Kazakhstan 1.26 Dec/13
Philippines 1.20 Sep/16
Costa Rica 1.15 Sep/16
New Zealand 1.10 Sep/16
Uruguay 1.10 Sep/16
Mexico 1.00 Sep/16
Slovenia 1.00 Sep/16
Taiwan 0.96 Sep/16
Albania 0.90 Sep/16
Canada 0.90 Sep/16
Israel 0.90 Sep/16
Jamaica 0.90 Sep/16
Saudi Arabia 0.90 Sep/16
Greece 0.80 Sep/16
Netherlands 0.80 Sep/16
Portugal 0.80 Sep/16
Bulgaria 0.70 Sep/16
Cyprus 0.70 Sep/16
Slovakia 0.70 Sep/16
Spain 0.70 Sep/16
Bosnia and Herzegovina 0.60 Sep/16
Chile 0.60 Sep/16
Ghana 0.60 Jun/16
Hong Kong 0.60 Sep/16
Moldova 0.60 Jun/16
Romania 0.60 Sep/16
South Korea 0.60 Sep/16
Thailand 0.60 Sep/16
United Kingdom 0.60 Sep/16
Ecuador 0.50 Sep/16
Paraguay 0.50 Sep/16
Sweden 0.50 Sep/16
Ukraine 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
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
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
El Salvador 0.13 Sep/16
Kenya 0.10 Sep/16
Lithuania 0.10 Sep/16
Belize 0.04 Sep/16
Serbia 0.00 Jun/16
Switzerland 0.00 Sep/16
Luxembourg -0.10 Sep/16
Argentina -0.20 Sep/16
Uganda -0.20 Sep/16
Australia -0.50 Sep/16
Norway -0.50 Sep/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Botswana -0.80 Sep/16
Brazil -0.80 Sep/16
Senegal -1.70 Sep/16
Dominican Republic -2.18 Sep/16
Turkey -2.70 Sep/16
Trinidad And Tobago -2.80 Jun/16