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Gross Domestic Product (GDP): Key Economic Indicators

Published Monday, February 11, 2019

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

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The economy grew by 0.2% in October-December 2018 compared to the previous quarter (July-September).

The quarterly growth came from growth in services (production and construction both decreased). Looking at month-on-month growth rates, GDP was estimated to grow by 0.2% in October and November and fall by 0.4% in December. (These monthly figures are more volatile than the quarterly estimates.)

In cash terms, GDP was £2,115 billion in 2018.

Forecasts

At the October 2018 Budget, the Office for Budget Responsibility (OBR) forecast growth of 1.3% for 2018 and 1.6% for 2019.

The Treasury’s January 2019 survey of independent forecasts for GDP growth showed an average forecast of 1.4% for 2018 and 1.4% for 2019.

Commons Briefing papers SN02783

Author: Andy Powell

Topic: Economic situation

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