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Gross Domestic Product (GDP): Key Economic Indicators

Published Wednesday, March 14, 2018

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

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The economy grew by 0.4% in Q4 2017 compared to the previous quarter. This follows growth of 0.5% in Q3 2017.

Compared to the year before, GDP was 1.4% higher in Q4 2017, the lowest annual rate of growth in over five years.

GDP has now increased for 20 consecutive quarters and is estimated to have grown by 1.7% in 2017, following growth of 1.9% in 2016.

GDP in cash terms was £2,039 billion in 2017.

Quarterly GDP growth


At the March 2018 Spring Statement, the Office for Budget Responsibility (OBR) forecast growth of 1.5% in 2018 and 1.3% in 2019.

The Treasury’s February 2018 survey of independent forecasts for GDP growth showed an average forecast of 1.5% for 2018 and 2019.

Commons Briefing papers SN02783

Author: Feargal McGuinness

Topic: Economic situation

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