GDP International Comparisons: data and forecasts for the UK and the world's largest economies.Jump to full report >>
GDP in the UK grew by 0.5% in Q4 2017 compared with the previous quarter. The US and Eurozone economies saw growth of 0.6% Compared with a year earlier, UK GDP rose 1.5%, while it was 2.5% higher in the US and up 2.7% in the Eurozone.
On 7 February the European Commission released its new set of forecasts. They reflected the stronger Eurozone economy, with growth for the Eurozone raised to 2.3% in 2018. UK GDP growth forecasts for 2018 were raised slightly to 1.4% from 1.3% previously.
On 22 January the IMF left its 2018 GDP growth forecast for the UK unchanged at 1.5%, but slightly lowered its forecast for 2019 from 1.6% to 1.5%. The IMF raised world growth forecasts, with notable increases in US and Eurozone growth expectations.
Commons Briefing papers SN02784
Author: Daniel Harari