GDP reading: Argentina’s GDP expanded 0.3% in seasonally adjusted quarter-on-quarter terms in Q3, following a 0.1% contraction in the previous...
Economic Growth in United Kingdom
The United Kingdom's GDP growth over the last decade was impacted by Brexit uncertainties and the COVID-19 pandemic. The Brexit referendum in 2016 introduced prolonged economic uncertainty, affecting investment and growth. The pandemic caused a historic contraction in 2020, followed by recovery. However, the UK economy is growing more slowly than in pre-Brexit years, dampened by trade frictions with the EU plus soft economic growth in mainland Europe.
In the year 2024, the economic growth in United Kingdom was 1.10%, compared to 3.19% in 2014 and 0.40% in 2023. It averaged 1.60% over the last decade. For more GDP information, visit our dedicated page.
United Kingdom GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for United Kingdom from 2014 to 2025.
Source: Macrobond.
United Kingdom GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -10.0 | 8.5 | 5.1 | 0.3 | 1.1 |
| GDP (USD bn) | 2,725 | 3,194 | 3,180 | 3,421 | 3,685 |
| GDP (GBP bn) | 2,125 | 2,323 | 2,581 | 2,752 | 2,884 |
| Economic Growth (Nominal GDP, ann. var. %) | -5.7 | 9.3 | 11.1 | 6.6 | 4.8 |
Economy contracts again in October
GDP reading: GDP fell 0.1% in seasonally adjusted month-on-month terms in October, unchanged from the prior month's reading and contrasting market expectations of an expansion. On a rolling quarter basis, GDP fell 0.1% in October, following 0.1% growth in the prior rolling quarter.
Drivers: Declines in retail and wholesale trade, construction and IT services drove October’s decline, outweighing higher manufacturing activity; manufacturing got a boost from partial recovery in the car industry following a cyber-attack in September.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects British GDP projections for the next ten years from a panel of 60 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for British GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our British GDP projections.
Want to get access to the full dataset of British GDP forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
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Argentina: Economy rebounds in Q3 2025 -
United Kingdom: Economy contracts again in October GDP reading: GDP fell 0.1% in seasonally adjusted month-on-month terms in October, unchanged from the prior month’s reading and contrasting... -
Greece: Economic growth picks up in the third quarter of 2025 GDP growth gains speed for a third straight quarter in Q3: Greece’s GDP grew 0.6% on a seasonally adjusted quarter-on-quarter... -
Luxembourg: Economic growth rises in the third quarter of 2025 Sequential growth among highest in euro area: Luxembourg’s GDP increased 1.1% in seasonally adjusted quarter-on-quarter terms in Q3, following a... -
Slovakia: Economic growth picks up in the third quarter of 2025 GDP growth improves but remains weak: A second release confirmed that Slovakia’s GDP increased 0.9% on a year-on-year basis in... -
Euro Area: Economic growth picks up in the third quarter of 2025 GDP growth revised upward: According to a detailed release, the euro area’s GDP grew 0.3% in seasonally and calendar-adjusted quarter-on-quarter... -
Bulgaria: Economic growth remains robust in Q3 Economy outpaces most of the EU: According to preliminary data, Bulgaria’s GDP increased 3.2% in working-day and seasonally adjusted year-on-year...