You are here:

House of Commons Library

Gross Domestic Product (GDP): Key Economic Indicators

Published Friday, March 17, 2017

UK Gross Domestic Product: Regularly updated data on growth and forecasts.

Jump to full report >>

The economy grew in real terms by 0.7% in Q4 2016 compared to the previous quarter, following growth of 0.6% in Q3 2016.

GDP in Q4 2016 was 2.0% higher than a year before.

GDP has now increased for 16 consecutive quarters and is estimated to have grown by 1.8% in 2016, compared ro growth of 2.2% in 2015.

GDP in cash terms was £1,940 billion in 2016.

Forecasts

The latest Office for Budget Responsibility (OBR) forecasts, published alongside the 2017 Spring Budget, are for growth of 2.0% in 2017 and 1.6% in 2018. By comparison, in November 2016 the OBR had forecast growth of 1.4% in 2017 and 1.7% in 2018.

In March 2017, the Treasury survey of independent forecasts for GDP growth showed an average forecast of 1.6% for 2017 and 1.4% for 2018.

Commons Briefing papers SN02783

Author: Feargal McGuinness

Topic: Economic situation

Share this page

Stay up to date

  • Subscribe to RSS feed Subscribe to Email alerts Commons Briefing papers

House of Commons Library

The House of Commons Library provides research, analysis and information services for MPs and their staff.