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

The Gross Domestic Product (GDP) in the United Kingdom expanded 0.70 percent in the second quarter of 2015 over the previous quarter. Figures from the second estimate confirmed the economy accelerated from a 0.4 percent increase in the first three months of the year, in line with preliminary estimates. 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
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.40 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 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. Content for - United Kingdom GDP Growth Rate - was last refreshed on Sunday, August 30, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-30 09:30 AM Q1 0.4% 0.8%(R) 0.4% 0.3%
2015-07-28 09:30 AM Q2 0.7% 0.4% 0.7% 0.5%
2015-08-28 09:30 AM Q2 0.7% 0.4% 0.7% 0.7%
2015-09-30 09:30 AM Q2 0.4% 0.7% 0.7%
2015-10-27 09:30 AM Q3 0.61%
2015-11-27 09:30 AM Q3


UK GDP Growth Confirmed at 0.7%


The British economy expanded 0.7 percent on quarter in the three months to June of 2015, higher than a 0.4 percent increase in the previous period and in line with preliminary estimates. It is the tenth consecutive quarter of growth, driven by a surge in business investment and exports.

Figures from the second estimate showed gross fixed capital formation increased 0.9 percent, driven by a 2.9 percent surge in business investment. 

The trade balance deficit narrowed from £13.4 billion in Quarter 1 2015 to £9.1 billion in Quarter 2 2015. Following a 0.4 percent increase in Quarter 1 2015, exports rose 3.9 percent in the latest quarter, while imports increased by 0.6 percent following a 2.3 percent increase.

Household final consumption went up 0.7 percent and has increased for 16 consecutive quarters. The largest increase came from miscellaneous goods.

Government expenditure increased by 0.9 percent, following a 0.9 percent increase in Quarter 1.

Year-on-year, the economy expanded 2.6 percent, unrevised from the preliminary estimate. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
8/28/2015 9:50:10 AM


Recent Releases

UK GDP Growth Accelerates in Q2
The British economy expanded 0.7 percent on quarter in the three months to June 2015, in line with market expectations and boosted by business services and finance and gas and oil production, preliminary estimates showed.
Published on 2015-07-28

UK GDP Growth Revised Up
The British economy expanded 0.4 percent in the first three months of 2015, better than an initial estimate of 0.3 percent and boosted by household consumption and investment. Still, it is the lowest growth rate since the last quarter of 2013.
Published on 2015-06-30

UK GDP Growth Confirmed at 0.3%
The British economy expanded 0.3 percent in the first three months of 2015 matching preliminary estimates but slowing from a 0.6 percent rise in the previous period. Second estimates released by the Office for National Statistics showed a drop in exports and higher imports weighted down on growth.
Published on 2015-05-28

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.
Published on 2015-04-28


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2941.89 2678.17 2963.10 72.33 USD Billion [+]
GDP Growth Rate 0.70 0.40 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.60 2.90 9.80 -5.80 percent [+]
GDP Constant Prices 436026.00 432995.00 436026.00 102017.00 GBP Million [+]
Gross National Product 444819.00 440734.00 444819.00 4726.00 GBP Million [+]
GDP per capita 40967.70 40199.32 41567.28 13478.88 USD [+]
Gross Fixed Capital Formation 76799.00 76099.00 76799.00 13015.00 GBP Million [+]
GDP per capita PPP 37613.54 36908.06 38164.02 26016.61 USD [+]
GDP From Agriculture 2287.00 2302.00 2419.00 1905.00 GBP Million [+]
GDP From Construction 23874.00 23871.00 24760.00 19100.00 GBP Million [+]
GDP From Manufacturing 37085.00 37211.00 39313.00 33784.00 GBP Million [+]
GDP From Mining 7713.00 7154.00 17596.00 6858.00 GBP Million [+]
GDP From Public Administration 18383.00 18440.00 20920.00 17535.00 GBP Million [+]
GDP From Services 309893.00 307883.00 309893.00 159756.00 GBP Million [+]
GDP From Transport 16179.00 16166.00 17474.00 9503.00 GBP Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -1.90 Jun/15 -0.70 3.90 -3.90 percent [+]
Canada -0.10 Mar/15 0.60 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.40 percent [+]
Euro Area 0.30 Jun/15 0.40 1.30 -2.90 percent [+]
France 0.00 Jun/15 0.60 7.70 -5.00 percent [+]
Germany 0.40 Jun/15 0.30 2.00 -4.50 percent [+]
India 2.06 Mar/15 1.36 5.30 -1.70 percent [+]
Indonesia 3.78 Jun/15 -0.18 3.83 -3.57 percent [+]
Italy 0.20 Jun/15 0.30 6.00 -3.50 percent [+]
Japan -0.40 Jun/15 1.00 3.20 -4.00 percent [+]
Mexico 0.50 Jun/15 0.40 2.90 -6.60 percent [+]
Netherlands 0.10 Jun/15 0.60 2.00 -2.20 percent [+]
Russia -1.29 Mar/15 -0.55 4.10 -5.40 percent [+]
South Korea 0.30 Jun/15 0.80 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.60 -1.60 percent [+]
Switzerland 0.20 Jun/15 -0.20 2.10 -1.90 percent [+]
Turkey 1.30 Mar/15 0.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Jun/15 0.40 5.00 -2.70 percent [+]
United States 3.70 Jun/15 0.60 16.90 -10.00 percent [+]