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

The Gross Domestic Product (GDP) in the United Kingdom expanded 0.50 percent in the fourth quarter of 2014 over the previous quarter. GDP Growth Rate in the United Kingdom averaged 0.61 percent from 1955 until 2014, 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.

      Forecast    
United Kingdom GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.70 5.00 -2.70 1955 - 2014 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 Saturday, March 28, 2015.


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.

Gross capital formation shrank 1.2 percent, following a 4.6 percent increase in the previous period and mainly due to a 1.4 percent fall in business investment.

Household consumption rose at a slower 0.5 percent (0.7 percent in Q3) while government expenditure showed no growth. Exports went up 3.5 percent, after falling in the previous two quarters and imports grew 1.3 percent 

On the production side, increases were recorded for agriculture, forestry and fishing (1.6 percent), production (0.1 percent) and services (0.8 percent). The only component to decrease was construction (-2.1 percent).

Year-on-year, the GDP advanced at its fastest pace in seven years (2.7 percent), bringing full year growth to 2.6 percent.


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
2/26/2015 11:12:23 AM


Recent Releases

UK Economy Slows More than Expected
British GDP advanced 0.5 percent on quarter in the last three months of 2014, below market expectations and compared with a 0.7 percent expansion in the previous period. Preliminary estimates showed services were the main driver of growth while construction and mining shrank. Published on 2015-01-27

UK GDP Growth Confirmed at 0.7% in Q3
The British economy expanded 0.7 percent on quarter in the three months to September, in line with previous estimates but down from a revised 0.8 percent increase in the previous period. Household and government consumption were the main drivers of growth. Published on 2014-12-23


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-23 09:30 AM
GDP Growth Rate QoQ Final  Q3
0.7% 0.8% (R) 0.7% 0.7%
2015-01-27 09:30 AM
GDP Growth Rate QoQ Prel  Q4
0.5% 0.7% 0.6% 0.6%
2015-02-26 09:30 AM
GDP Growth Rate QoQ 2 Est  Q4
0.5% 0.7% 0.5% 0.5%
2015-03-31 09:30 AM
GDP Growth Rate QoQ Final  Q4
0.7% 0.5% 0.5%
2015-04-28 09:30 AM
GDP Growth Rate QoQ Prel  Q1
0.62%
2015-05-28 09:30 AM
GDP Growth Rate QoQ - 2 Est  Q1


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.50 0.70 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.70 2.60 9.80 -5.80 percent [+]
GDP Constant Prices 428347.00 426382.00 428347.00 102335.00 GBP Million [+]
Gross National Product 1134.00 3756.00 438428.00 88.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 72626.00 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 1.50 Nov/14 1.90 2.50 1.40 percent [+]
Euro Area 0.30 Nov/14 0.20 1.30 -2.80 percent [+]
France 0.10 Nov/14 0.30 1.60 -1.70 percent [+]
Germany 0.70 Nov/14 0.10 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -2.06 Nov/14 3.16 3.82 -3.57 percent [+]
Italy 0.00 Nov/14 -0.10 6.00 -3.50 percent [+]
Japan 0.40 Nov/14 -0.60 3.20 -4.00 percent [+]
Mexico 0.70 Nov/14 0.50 2.90 -6.60 percent [+]
Netherlands 0.80 Nov/14 0.30 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.30 Nov/14 0.80 6.80 -7.00 percent [+]
Spain 0.80 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland 0.60 Nov/14 0.70 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.50 Nov/14 0.70 5.00 -2.70 percent [+]
United States 2.20 Nov/14 5.00 16.90 -10.00 percent [+]