GDP growth (annual %) - United Kingdom from The World Bank: Data. In the UK, there are more data available on output in the short-term than in either of the other two approaches. Instead, we will produce an indicative balance to allow further time for final quality assurance of the data. The quarterly increase reflects strength in new construction work, particularly in private commercial and public housing in the three months to December 2019. Thematic data tables from WDI. However, likely in part linked to the timing of planned exit dates within the quarter, these impacts are less clear when you look at Quarter 4 as a whole when compared with Quarter 1. The Services PMI (PDF, 182.92KB) also reported a relatively subdued picture in the final month of 2019, reporting that business activity was unchanged in December following a marginal reduction in the previous month. This was in part linked to changes in the timing of activity around the originally planned departure dates of the UK from the EU in March and October 2019. Meanwhile, following two consecutive quarters of decline, other income (which includes mixed income and the operating surplus of the non-corporate sector) grew 0.8% in Quarter 4 2019, driven by self-employment income. More information on how non-monetary gold features in GDP is available. The publication of monthly gross domestic product (GDP) on 10 October will also incorporate these changes. Anecdotal evidence suggested that domestic political uncertainty in the run-up to the general election was the main factor weighing on new orders. UK gross domestic product (GDP) was flat in Quarter 4 (Oct to Dec) 2019. Still, it is the biggest contraction since comparable records began in 1956 and the second consecutive quarterly decline in GDP, officially entering a recession, amid a widespread disruption to economic activity due to the coronavirus pandemic and the government's efforts to contain it. The slowdown in the UK economy isn’t deterring Wetherspoons from expanding. In line with the National Accounts Revisions Policy, the dataset is open to revision back to Quarter 1 (Jan to Mar) 2019 as part of this publication. But the pound has risen, touching a new seven-month high against the US dollar, as traders brace for Thursday’s election. After the transition period, we will continue to produce our national accounts statistics in line with the UK Statistics Authority’s (UKSA’s) Code of Practice for Statistics and in accordance with internationally agreed statistical guidance and standards. If you continue to navigate this website beyond this page, cookies will be placed on your browser. We use this information to make the website work as well as possible and improve our services. Household consumption dropped 1 percent and fixed investment slumped 2.3 percent. It estimates the size of and growth in the economy. Monthly growth for production was 0.1% in July 2019, with strength coming from the often-volatile manufacture of pharmaceutical products, which grew by 3.8%. GDP grew by 0.3% in July 2019, with all components apart from agriculture showing growth. More detailed information can be found in the UK Trade release. The pound has hit a new seven-month high against the US dollar today, touching $1.3189, as investors continue to price in a Conservative election victory. Both the services and production sectors grew by 0.3% in the three months to May 2019, contributing positively to headline gross domestic product (GDP) growth. Britain's gross domestic product shrank by 1.7 percent year-on-year in the first quarter of 2020, the biggest fall since the third quarter of 2009 and compared with a preliminary estimate of a 1.6 percent slump, due to a widespread disruption to economic activity due to the coronavirus pandemic and the government's efforts to contain it since the second half of March. Alignment and balancing adjustments are typically applied to the inventories component to help balance the different approaches to GDP – more detail on these can be found in the Quality and methodology section of this publication. The increase in private new housing coincides with a fall of 11.7% in public new housing, a reversal of the picture seen in recent periods. Private consumption is household final consumption expenditure and non-profit institutions serving households. Paul Dales of Capital Economics fears the UK economy is going nowhere in the current quarter, given today’s weak GDP report. Government consumption increased by 2.1% in Quarter 4 2019, a notable pickup from the previous quarter and the strongest quarterly growth since Quarter 1 (Jan to Mar) 2012. Each year, we produce an annual update to the UK National Accounts in the Blue Book and Pink Book and the associated releases. Rolling three-month estimates are calculated by comparing GDP in a three-month period with GDP in the previous three-month period.

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