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Gross Domestic Product (GDP): Key Economic Indicators

Published Friday, December 22, 2017

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

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The economy grew by 0.4% in Q3 2017 compared to the previous quarter, following growth of 0.3% in the two previous quarters.

GDP in Q3 2017 was 1.7% higher than a year before.

GDP has now increased for 19 consecutive quarters and is estimated to have grown by 1.9% in 2016, compared to growth of 2.3% in 2015.

GDP in cash terms was £1,963 billion in 2016.

Forecasts

At the November 2017 Budget, the Office for Budget Responsibility (OBR) forecast growth of 1.5% in 2017 and 1.4% in 2018.

The Treasury’s December 2017 survey of independent forecasts for GDP growth showed an average forecast of 1.6% for 2017 and 1.5% for 2018.

Commons Briefing papers SN02783

Author: Feargal McGuinness

Topic: Economic situation

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