United Kingdom GDP Growth Rate

Last Release

Dec 31, 2024

Actual

0.1

Units In

0.1

Frequency

Quarterly

Next Release

Jun 27, 2025

Time to Release

2 Months 27 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
17.6 Sep 2020	-19.4 Jun 2020	0.57 %	1955-2024	Office for National Statistics

The services sector is the most important and account for 79 percent of United Kingdom's GDP. The biggest segments within services are: government, education and health (19 percent of total GDP); real estate (12 percent); professional, scientific and technical activities and administrative and support services (12 percent); wholesale and retail trade (11 percent); and financial and insurance (8 percent). Industry accounts for 21 percent of the GDP and the largest segments within this sector are: manufacturing (10 percent of total GDP) and construction (6 percent). The Agriculture sector accounts for only 1 percent of GDP. Composition of the GDP on the expenditure side: household consumption (65 percent), government expenditure (20 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 28 percent of GDP while imports account for 30 percent, subtracting 2 percent from GDP.

Latest Updates

The British economy expanded 0.1% on quarter in Q4 2024, the same as in the first estimate, and following a flat reading in Q3. On the production side, the services sector increased by 0.1% (less than 0.2% in the first estimate), with the largest positive contribution coming from human health and social work activities. Construction also grew 0.3%, while production fell by 0.4% (vs -0.8% in the first estimate), largely driven by a 0.6% decline in manufacturing, namely manufacture of basic metals and metal products (-2.9%) and transport equipment (-2%). On the expenditure side, there were falls in net trade and gross fixed capital formation, offset by a large increase in gross capital formation. Also, household consumption increased 0.1%, revised up from the initial estimate of no growth, mostly due to spending on restaurants and hotels, and housing. Public expenditure rose 0.5%, mainly public administration and defence, and higher activity in health.