No growth in Q4 but better in 2019 as a whole

GDP monthly estimate, UK: December 2019 – ONS

  • UK gross domestic product (GDP) was flat in Quarter 4 (Oct to Dec) 2019
  • Growth in both services and construction was offset by a fall in production, which resulted in 0.0% GDP growth in the three months to December 2019
  • Rolling three-month growth weakened for the third month in a row in December 2019
  • Headline GDP grew by 1.4% in 2019

 

Growth lowest for six years

GDP monthly estimate, UK: December 2018

Headline annual gross domestic product (GDP) growth was 1.4% in 2018, the lowest it has been in six years. Meanwhile, the services sector had annual growth of 1.7%, the lowest since 2011 and the production sector had annual growth of 0.7%, the lowest since 2013. Construction annual growth was 0.6%, the lowest since 2012. Construction growth contracted in Quarter 4 2018, the first negative three-month growth since May 2018

UK gross domestic product grew by 0.2% in Quarter 4 2018

Rolling three-month growth slowed further to 0.2%, after growth of 0.3% in November 2018

GDP fell by 0.4% in December 2018

GDP increases by 0.5%

Gross domestic product, preliminary estimate: October to December 2017 – ONS

  • UK gross domestic product (GDP) was estimated to have increased by 0.5% in Quarter 4 (Oct to Dec) 2017, compared with 0.4% in Quarter 3 (July to Sept) 2017.
  • The dominant services sector, driven by business services and finance, increased by 0.6% compared with the previous quarter, although the longer-term trend continues to show a weakening in services growth.
  • Production industries grew by 0.6%, boosted by the second consecutive quarter of strong growth in manufacturing.
  • Growth in manufacturing was partially offset in total production by a significant fall in oil and gas extraction, caused by the well-publicised repair work made to the Forties pipeline.
  • Construction contracted for the third quarter in a row, although annual growth between 2016 and 2017 was very strong at 5.1%, due to a strong start to 2017.
  • GDP was estimated to have increased by 1.8% between 2016 and 2017, slightly below the 1.9% growth seen between 2015 and 2016.

Growth Steady

Gross domestic product, preliminary estimate: Oct to Dec 2016 – ONS

  • UK gross domestic product (GDP) was estimated to have increased by 0.6% during Quarter 4 (Oct to Dec) 2016, the same rate of growth as in the previous 2 quarters.
  • Growth during Quarter 4 was dominated by services, with a strong contribution from consumer-focused industries such as retail sales and travel agency services.
  • Following falls in Quarter 3 (July to Sept) 2016, construction and production provided negligible positive contributions to GDP growth in Quarter 4 2016.
  • UK GDP was estimated to have increased by 2.0% during 2016, slowing slightly from 2.2% in 2015 and from 3.1% in 2014.
  • GDP per head was estimated to have increased by 0.4% during Quarter 4 2016 and by 1.3% during 2016.

Growth at 0.5% in Q3

Gross Domestic Product, preliminary estimate: July to Sept 2016 – ONS

  • Change in gross domestic product (GDP) is the main indicator of economic growth. GDP was estimated to have increased by 0.5% in Quarter 3 (July to Sept) 2016 compared with growth of 0.7% in Quarter 2 (Apr to June) 2016.¬†GDP was 2.3% higher in Quarter 3 2016 compared with the same quarter a year ago.
  • In Quarter 3 2016, the services industries increased by 0.8%. In contrast, output decreased in the other 3 main industrial groups with construction decreasing by 1.4%, agriculture decreasing by 0.7% and production decreasing by 0.4%, within which manufacturing decreased by 1.0%.