UK Gross Domestic Product: Regularly updated data on growth and forecasts.Jump to full report >>
The economy contracted by 0.2% in Quarter 2 2019 (April-June) compared to the previous quarter (January-March). This was the first time the economy has contracted since 2012. This followed growth of 0.5% in Quarter 1.
Output in both the production and construction sectors contracted in Quarter 2, while the growth in services was subdued.
Looking at month-on-month growth rates, GDP was flat in June after growth of 0.2% in May, and a contraction of 0.5% in April. (These monthly figures are more volatile than the quarterly estimates.)
In cash terms, GDP was £2,118 billion in 2018.
At the March 2019 Spring Statement, the Office for Budget Responsibility (OBR) forecast growth of 1.2% for 2019 and 1.4% for 2020.
The Treasury’s July 2019 survey of independent forecasts for GDP growth showed an average forecast of 1.3% for 2019 and 1.4% for 2020.
Commons Briefing papers SN02783
Author: Andy Powell
Topic: Economic situation