UK Gross Domestic Product: Regularly updated data on growth and forecasts.Jump to full report >>
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.
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