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Gross Domestic Product (GDP): Key Economic Indicators

Published Friday, August 17, 2018

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

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The economy grew by 0.4% in April-June 2018 compared to 0.2% in the previous quarter (January-March).

Compared to the year before, GDP was 1.3% higher in April-June 2018. The general trend in GDP over the past few years has been one of slowing growth since 2014.

On a monthly basis, GDP was estimated to have increased by 0.1% in June, following growth of 0.3% in May and 0.2% in April. Monthly data are more volatile than quarterly estimates.

In cash terms, GDP was £2,041 billion in 2017.

GDP growth, % change on previous quarter

Forecasts

The Treasury’s August 2018 survey of independent forecasts for GDP growth showed an average forecast of 1.3% for 2018 and 1.5% for 2019.

At the March 2018 Spring Statement, the Office for Budget Responsibility (OBR) forecast growth of 1.5% in 2018 and 1.3% in 2019.

Commons Briefing papers SN02783

Author: Feargal McGuinness

Topic: Economic situation

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