UK Gross Domestic Product: Regularly updated data on growth and forecasts.Jump to full report >>
The economy grew by 0.2% in Q1 2017 compared to the previous quarter, following growth of 0.7% in Q4 2016.
This was the slowest rate of growth for four quarters, since Q1 2016. The ONS reports the slowdown was mainly due to lower output from some consumer-facing services, such as retail and accommodation.
GDP in Q1 2017 was 2.0% higher than a year before.
GDP has now increased for 17 consecutive quarters and is estimated to have grown by 1.8% in 2016, compared to growth of 2.2% in 2015.
GDP in cash terms was £1,940 billion in 2016.
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 June 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