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

The British economy expanded 0.4 percent on quarter in the first three months of 2016, slowing from a 0.6 percent growth in the previous period and in line with market expectations, preliminary figures showed. The services sector led the expansion while industrial production, construction and agriculture shrank. 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 0.60 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-25 09:30 AM Q4 0.5% 0.4% 0.5% 0.5%
2016-03-31 08:30 AM Q4 0.6% 0.4% 0.5% 0.5%
2016-04-27 08:30 AM Q1 0.4% 0.6% 0.4% 0.5%
2016-05-26 08:30 AM Q1 0.6% 0.4% 0.4%
2016-06-30 08:30 AM Q1 0.6% 0.4%
2016-07-27 08:30 AM Q2 0.6%

UK GDP Growth Slows to 0.4% in Q1


The British economy expanded 0.4 percent on quarter in the first three months of 2016, slowing from a 0.6 percent growth in the previous period and in line with market expectations, preliminary figures showed. The services sector led the expansion industrial production, construction and agriculture shrank.

Services increased 0.6 percent, contributing 0.50 percentage points to growth. This followed an increase of 0.8 percent in the previous period. There were gains in all 4 of the main services aggregates (distribution, hotels and restaurants; transport, storage and communication; business services and finance; government and other services). Growth in business services and finance slowed to 0.3 percent from 0.7 percent and was the main reason behind the reduction in services growth between the 2 quarters. 

There was a downward contribution (0.05 percentage points) from the production industries; these industries contracted 0.4 percent, with mining and quarrying decreasing by 2.2 percent following the same decrease in Quarter 4 2015 and manufacturing decreasing by 0.4 percent following a rise of 0.1 percent in Quarter 4 2015. Partially offsetting these decreases was a rise of 2.0 percent in water and waste management following an increase of 0.9 percent in Quarter 4 2015 and a rise of 0.4 percent in energy supply following a decrease of 2.2 percent in Quarter 4 2015. 

There was a downward contribution (0.05 percentage points) from construction; this industry fell by 0.9 percent. This follows an increase of 0.3 percent in Quarter 4 2015. In addition, the agricultural sector contracted 0.1 percent. 

Year-on-year, the economy advanced 2.1 percent, the same as in the previous period and higher than market expectations of a 2 percent expansion.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
4/27/2016 10:24:17 AM

United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.10 2.10 9.80 -5.90 percent [+]
GDP 2988.89 2712.30 2988.89 72.33 USD Billion [+]
GDP Constant Prices 453065.00 451260.00 453065.00 103840.00 GBP Million [+]
Gross National Product 456188.00 462672.00 462672.00 4726.00 GBP Million [+]
Gross Fixed Capital Formation 76559.00 77418.00 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 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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