UK Gross Domestic Product: Regularly updated data on growth and forecasts.Jump to full report >>
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.
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