GDP International Comparisons: data and forecasts for the UK and the world's largest economies.Jump to full report >>
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%.
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.
Commons Briefing papers SN02784
Author: Daniel Harari