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GDP - International Comparisons: Key Economic Indicators

Published Thursday, May 26, 2016

GDP International Comparisons: data and forecasts for the UK and the world's largest economies.

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Real GDP in the UK grew by 0.4% in Q1 2016 compared with the previous quarter. In the same quarter, the Eurozone saw growth of 0.5%, while the US grew by 0.1%.

G7 GDP growth in Q1 2016

Forecasts

On 3 May, the European Commission lowered its GDP growth forecasts for many of the world’s largest economies. UK growth for 2016 was lowered from 2.1% (at the time of the last forecast in February) to 1.8%. Eurozone growth was revised slightly lower from 1.7% to 1.6%.

On 12 April, the IMF also lowered GDP growth forecasts for most of the world’s big economies. UK growth for 2016 was revised from 2.2% (at the time of the last forecast in January) to 1.9%, which would be the second highest in the G7 economies.

IMF GDP growth forecast for 2016

 

Commons Briefing papers SN02784

Author: Daniel Harari

Topics: Economic situation, International economic relations, World economy

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