UK Gross Domestic Product: Regularly updated data on growth and forecasts.Jump to full report >>
The economy grew by 0.3% in Quarter 3 (July-September) 2019 compared to the previous quarter (April-June).
This followed a contraction of 0.2% in Quarter 2 2019, the first time the economy had contracted since 2012.
The services sector was the main driver of the Quarter 3 growth.
Growth was 1.0% in the year to Quarter 3 2019, the lowest rate of annual growth since Quarter 1 2010.
Looking at month-on-month growth rates, GDP contracted by 0.1% in September and by 0.2% in August following growth of 0.3% in July. (These monthly figures are more volatile than the quarterly estimates.)
In cash terms, GDP was £2,140 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 October 2019 survey of independent forecasts for GDP growth showed an average forecast of 1.2% for 2019 and 1.0% for 2020. This was unchanged from the September survey. The 2020 forecast was 1.2% in the August survey.
Commons Briefing papers SN02783
Author: Andy Powell
Topic: Economic situation