100+ datasets found
  1. Monthly GDP growth of the UK 2022-2025

    • statista.com
    • ai-chatbox.pro
    Updated Jul 11, 2025
    + more versions
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    Statista (2025). Monthly GDP growth of the UK 2022-2025 [Dataset]. https://www.statista.com/statistics/941233/monthly-gdp-growth-uk/
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    Dataset updated
    Jul 11, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    May 2023 - May 2025
    Area covered
    United Kingdom
    Description

    The UK economy shrank by 0.1 percent in May 2025 after shrinking by 0.3 percent in April. Since a huge decline in GDP in April 2020, the UK economy has gradually recovered and is now around 4.4 percent larger than it was before the COVID-19 pandemic. After the initial recovery from the pandemic, however, the UK economy has effectively flatlined, fluctuating between low growth and small contractions since January 2022. Labour banking on growth to turn around fortunes in 2025 In February 2025, just over half a year after winning the last general election, the approval rating for the new Labour government fell to a low of -48 percent. Furthermore, the Prime Minister, Keir Starmer was not only less popular than the new Conservative leader, Kemi Badenoch, but also the leader of the Reform Party, Nigel Farage, whose party have surged in opinion polls recently. This remarkable decline in popularity for the new government is, in some part, due to a deliberate policy of making tough decisions early. Arguably, the most damaging of these policies was the withdrawal of the winter fuel allowance for some pensioners, although other factors such as a controversy about gifts and donations also hurt the government. While Labour aims to restore the UK's economic and political credibility in the long term, they will certainly hope for some good economic news sooner rather than later. Economy bounces back in 2024 after ending 2023 in recession Due to two consecutive quarters of negative economic growth, in late 2023 the UK economy ended the year in recession. After not growing at all in the second quarter of 2023, UK GDP fell by 0.1 percent in the third quarter, and then by 0.3 percent in the last quarter. For the whole of 2023, the economy grew by 0.4 percent compared to 2022, and for 2024 is forecast to have grown by 1.1 percent. During the first two quarters of 2024, UK GDP grew by 0.7 percent, and 0.4 percent, with this relatively strong growth followed by zero percent growth in the third quarter of the year. Although the economy had started to grow again by the time of the 2024 general election, this was not enough to save the Conservative government at the time. Despite usually seen as the best party for handling the economy, the Conservative's economic competency was behind that of Labour on the eve of the 2024 election.

  2. T

    United Kingdom GDP

    • tradingeconomics.com
    • jp.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, United Kingdom GDP [Dataset]. https://tradingeconomics.com/united-kingdom/gdp
    Explore at:
    xml, excel, csv, jsonAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1960 - Dec 31, 2024
    Area covered
    United Kingdom
    Description

    The Gross Domestic Product (GDP) in the United Kingdom was worth 3643.83 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United Kingdom represents 3.43 percent of the world economy. This dataset provides the latest reported value for - United Kingdom GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  3. GDP growth forecast UK 2019-2029

    • statista.com
    Updated Jun 25, 2025
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    Statista (2025). GDP growth forecast UK 2019-2029 [Dataset]. https://www.statista.com/statistics/375195/gdp-growth-forecast-uk/
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    Dataset updated
    Jun 25, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    In 2024, the gross domestic product (GDP) of the United Kingdom grew by *** percent and is expected to grow by just *** percent in 2025 and by *** percent in 2026. Growth is expected to slow down to *** percent in 2027, and then grow by ***, and *** percent in 2027 and 2028 respectively. The sudden emergence of COVID-19 in 2020 and subsequent closure of large parts of the economy were the cause of the huge *** percent contraction in 2020, with the economy recovering somewhat in 2021, when the economy grew by *** percent. UK growth downgraded in 2025 Although the economy is still expected to grow in 2025, the *** percent growth anticipated in this forecast has been halved from *** percent in October 2024. Increased geopolitical uncertainty as well as the impact of American tariffs on the global economy are some of the main reasons for this mark down. The UK's inflation rate for 2025 has also been revised, with an annual rate of *** percent predicated, up from *** percent in the last forecast. Unemployment is also anticipated to be higher than initially thought, with the annual unemployment rate likely to be *** percent instead of *** percent. Long-term growth problems In the last two quarters of 2023, the UK economy shrank by *** percent in Q3 and by *** percent in Q4, plunging the UK into recession for the first time since the COVID-19 pandemic. Even before that last recession, however, the UK economy has been struggling with weak growth. Although growth since the pandemic has been noticeably sluggish, there has been a clear long-term trend of declining growth rates. The economy has consistently been seen as one of the most important issues to people in Britain, ahead of health, immigration and the environment. Achieving strong levels of economic growth is one of the main aims of the Labour government elected in 2024, although after almost one year in power it has so far proven elusive.

  4. T

    United Kingdom GDP Growth Rate

    • tradingeconomics.com
    • de.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated May 15, 2025
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    TRADING ECONOMICS (2025). United Kingdom GDP Growth Rate [Dataset]. https://tradingeconomics.com/united-kingdom/gdp-growth
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    excel, json, csv, xmlAvailable download formats
    Dataset updated
    May 15, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jun 30, 1955 - Mar 31, 2025
    Area covered
    United Kingdom
    Description

    The Gross Domestic Product (GDP) in the United Kingdom expanded 0.70 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - United Kingdom GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  5. Forecasts for the UK economy: June 2025

    • gov.uk
    Updated Jun 18, 2025
    + more versions
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    HM Treasury (2025). Forecasts for the UK economy: June 2025 [Dataset]. https://www.gov.uk/government/statistics/forecasts-for-the-uk-economy-june-2025
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    Dataset updated
    Jun 18, 2025
    Dataset provided by
    GOV.UKhttp://gov.uk/
    Authors
    HM Treasury
    Area covered
    United Kingdom
    Description

    Forecasts for the UK economy is a monthly comparison of independent forecasts.

    Please note that this is a summary of published material reflecting the views of the forecasting organisations themselves and does not in any way provide new information on the Treasury’s own views. It contains only a selection of forecasters, which is subject to review.

    No significance should be attached to the inclusion or exclusion of any particular forecasting organisation. HM Treasury accepts no responsibility for the accuracy of material published in this comparison.

    This month’s edition of the forecast comparison contains short-term forecasts for 2025 and 2026.

  6. M

    U.K. GDP

    • macrotrends.net
    csv
    Updated May 31, 2025
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    MACROTRENDS (2025). U.K. GDP [Dataset]. https://www.macrotrends.net/global-metrics/countries/gbr/united-kingdom/gdp-gross-domestic-product
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    csvAvailable download formats
    Dataset updated
    May 31, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Area covered
    United Kingdom
    Description
    U.K. GDP for 2023 was 3.381 trillion US dollars, a 8.57% increase from 2022.
    <ul style='margin-top:20px;'>
    
    <li>U.K. GDP for 2022 was <strong>3.114 trillion US dollars</strong>, a <strong>0.93% decline</strong> from 2021.</li>
    <li>U.K. GDP for 2021 was <strong>3.143 trillion US dollars</strong>, a <strong>16.56% increase</strong> from 2020.</li>
    <li>U.K. GDP for 2020 was <strong>2.697 trillion US dollars</strong>, a <strong>5.42% decline</strong> from 2019.</li>
    </ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
    
  7. T

    United Kingdom GDP Annual Growth Rate

    • tradingeconomics.com
    • ru.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Jun 30, 2025
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    TRADING ECONOMICS (2025). United Kingdom GDP Annual Growth Rate [Dataset]. https://tradingeconomics.com/united-kingdom/gdp-growth-annual
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    json, csv, excel, xmlAvailable download formats
    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 31, 1956 - Mar 31, 2025
    Area covered
    United Kingdom
    Description

    The Gross Domestic Product (GDP) in the United Kingdom expanded 1.30 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - United Kingdom GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  8. GDP forecast UK 2019-2029

    • statista.com
    • ai-chatbox.pro
    Updated Apr 24, 2025
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    Statista (2025). GDP forecast UK 2019-2029 [Dataset]. https://www.statista.com/statistics/373187/uk-gdp-forecast/
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    Dataset updated
    Apr 24, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    In 2025, the UK's gross domestic product is forecast to reach 2.96 trillion British pounds, and exceed three trillion pounds by 2026.

  9. T

    United Kingdom GDP per capita

    • tradingeconomics.com
    • ar.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, United Kingdom GDP per capita [Dataset]. https://tradingeconomics.com/united-kingdom/gdp-per-capita
    Explore at:
    csv, json, xml, excelAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1960 - Dec 31, 2024
    Area covered
    United Kingdom
    Description

    The Gross Domestic Product per capita in the United Kingdom was last recorded at 47265 US dollars in 2024. The GDP per Capita in the United Kingdom is equivalent to 374 percent of the world's average. This dataset provides the latest reported value for - United Kingdom GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  10. Gross domestic product (GDP) of the United Kingdom 2030 (in U.S. dollars)

    • statista.com
    • ai-chatbox.pro
    Updated May 21, 2025
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    Statista (2025). Gross domestic product (GDP) of the United Kingdom 2030 (in U.S. dollars) [Dataset]. https://www.statista.com/statistics/263590/gross-domestic-product-gdp-of-the-united-kingdom/
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    Dataset updated
    May 21, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    The statistic shows the GDP of the United Kingdom between 1987 and 2024, with projections up until 2030, in US dollars.Private-sector-led economic recoveryGDP is counted among the primary indicators that are used to gauge the state of health of a national economy. GDP is the total value of all completed goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to gain a broader understanding of a country’s economy in a clear way. Real GDP, in a similar way, is also a rather useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, thereby acting as a key indicator for economic growth.The gross domestic product of the United Kingdom is beginning to show signs of recovery since seeing a sharp decline in the wake of the financial crisis. The decreasing unemployment rate in the United Kingdom is also indicating that the worst could be over for the country. However, some concerns have arisen about what forms of employment are being represented, how stable the jobs are, and whether or not they are simply being cited by officials in government as validation for reforms that are criticized by opponents as being ‘ideologically motivated’. Whatever the political motivation, the coalition government’s efforts to let the private sector lead the economic recovery through increasing employment in the UK in the private sector appear, for now at least, to be working.

  11. M

    U.K. GDP Growth Rate

    • macrotrends.net
    csv
    Updated Jun 30, 2025
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    MACROTRENDS (2025). U.K. GDP Growth Rate [Dataset]. https://www.macrotrends.net/global-metrics/countries/gbr/united-kingdom/gdp-growth-rate
    Explore at:
    csvAvailable download formats
    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    MACROTRENDS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 1961 - Dec 31, 2023
    Area covered
    United Kingdom
    Description

    Historical chart and dataset showing U.K. gdp growth rate by year from 1961 to 2023.

  12. Forecast for GDP growth, inflation, and unemployment in the UK 2025

    • statista.com
    Updated Apr 2, 2025
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    Statista (2025). Forecast for GDP growth, inflation, and unemployment in the UK 2025 [Dataset]. https://www.statista.com/statistics/578567/uk-headline-economic-forecasts/
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    Dataset updated
    Apr 2, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Oct 2024 - Mar 2025
    Area covered
    United Kingdom
    Description

    In 2025, the UK economy is expected to grow by just one percent, according to the economic and fiscal outlook from March 2025. GDP growth has been downgraded from two percent when compared with the previous forecast from October 2024. The inflation rate is expected to average out at 3.2 percent, and the unemployment rate at 4.5 percent. Inflation distress continues for UK consumers The expected increase in UK inflation for 2025 looks set to peak at 3.7 percent in the third quarter of the year, before falling to two percent by early 2026. Though this spike in prices will be far less serious than in 2022, when UK inflation reached a peak of 11.1 percent in October 2022, UK households are still suffering from the impact of the previous crisis. In March 2025, approximately 59 percent of UK households were dealing with rising living costs, relative to the previous month, mainly due to rising energy and food costs. Unemployment set to rise in 2025 Aside from rising prices and a slowing economy, the UK will also have to contend with rising unemployment in 2025. As with inflation, however, the rise in unemployment is expected to be relatively mild and short-lived, especially when compared with previous periods of high unemployment. Recently, the government has been more concerned about high levels of economic inactivity, especially among young people, with the number of 16- to 24-year-olds not in employment, education, or training approaching one million towards the end of 2024.

  13. T

    United Kingdom Monthly GDP MoM

    • tradingeconomics.com
    • de.tradingeconomics.com
    • +14more
    csv, excel, json, xml
    Updated Jul 11, 2025
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    TRADING ECONOMICS (2025). United Kingdom Monthly GDP MoM [Dataset]. https://tradingeconomics.com/united-kingdom/monthly-gdp-mom
    Explore at:
    json, csv, xml, excelAvailable download formats
    Dataset updated
    Jul 11, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 28, 1997 - May 31, 2025
    Area covered
    United Kingdom
    Description

    Monthly GDP MoM in the United Kingdom decreased by 0.10 percent in May from -0.30 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom Monthly GDP MoM.

  14. Quarterly GDP of the UK 2019-2025

    • statista.com
    Updated Jun 30, 2025
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    Statista (2025). Quarterly GDP of the UK 2019-2025 [Dataset]. https://www.statista.com/statistics/785546/gross-domestic-product-per-quarter-united-kingdom/
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    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    In the first quarter of 2025, the quarterly gross domestic product of the United Kingdom was approximately, 647 billion British pounds, compared with around 642.3 billion pounds in the previous quarter. The large dip in GDP that can be seen in the second quarter of 2020 saw the UK economy fall from 604.7 billion pounds to 481.8 billion, with more usual levels of output not recovering until well into 2021. The COVID-19 lockdowns enacted by the UK government at that time was the main reason for this large fall in GDP. Growth lagging as UK heads into 2025 After ending 2023 in recession, the UK economy started 2024 with the strongest quarterly GDP growth in several years, growing by 0.7 percent in the first quarter, and then by 0.4 percent in the second quarter. Economic growth in the second half of the year was, however, far less promising, with GDP flatlining in the third quarter, and monthly GDP shrinking by 0.1 percent in September and then again in October. Although GDP is still forecast to grow in 2025, the overall economic picture is precarious. In November, UK inflation rose to 2.6 percent, compared with just 1.7 percent in September, while the labor market continues to show signs of cooling after a period of high job vacancies and low unemployment. Labour pinning hopes on long-term growth After winning its first general election in 19 years in 2024, the Labour Government has seen its approval ratings plummet in its first few months in office. This shaky start is partly due to a government strategy of making unpopular decisions early in their tenure, which they hope will eventually encourage stable economic growth in the mid to long-term. By far the least popular policy was the withdrawal of winter fuel benefits for a significant number of pensioners, a cost-cutting measure deemed necessary due to the UK's vulnerable public finance position, with government debt at around 100 percent of GDP. A further measure introduced was a national insurance tax increase for employers, with almost half of UK firms citing increased taxes as their main external concern in Q3 2024. Avoiding any further tax rises or cuts to services will depend on if policies in other areas, such as planning reform, will kickstart the UK economy in time before the next election.

  15. Regional gross domestic product: all ITL regions

    • ons.gov.uk
    • cy.ons.gov.uk
    xlsx
    Updated Apr 17, 2025
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    Office for National Statistics (2025). Regional gross domestic product: all ITL regions [Dataset]. https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/regionalgrossdomesticproductallnutslevelregions
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    xlsxAvailable download formats
    Dataset updated
    Apr 17, 2025
    Dataset provided by
    Office for National Statisticshttp://www.ons.gov.uk/
    License

    Open Government Licence 3.0http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/
    License information was derived automatically

    Description

    Annual estimates of balanced UK regional gross domestic product (GDP). Current price estimates and chained volume measures for UK countries, ITL1, ITL2 and ITL3 regions.

  16. T

    United Kingdom - GDP Per Capita

    • tradingeconomics.com
    csv, excel, json, xml
    Updated May 27, 2017
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    TRADING ECONOMICS (2017). United Kingdom - GDP Per Capita [Dataset]. https://tradingeconomics.com/united-kingdom/gdp-per-capita-us-dollar-wb-data.html
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    csv, excel, xml, jsonAvailable download formats
    Dataset updated
    May 27, 2017
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 1, 1976 - Dec 31, 2025
    Area covered
    United Kingdom
    Description

    GDP per capita (current US$) in United Kingdom was reported at 52637 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. United Kingdom - GDP per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

  17. F

    Gross Domestic Product for United Kingdom

    • fred.stlouisfed.org
    json
    Updated Jun 27, 2025
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    (2025). Gross Domestic Product for United Kingdom [Dataset]. https://fred.stlouisfed.org/series/UKNGDP
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    jsonAvailable download formats
    Dataset updated
    Jun 27, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-citation-requiredhttps://fred.stlouisfed.org/legal/#copyright-citation-required

    Area covered
    United Kingdom
    Description

    Graph and download economic data for Gross Domestic Product for United Kingdom (UKNGDP) from Q1 1955 to Q1 2025 about United Kingdom and GDP.

  18. w

    GDP deflators at market prices, and money GDP June 2025 (Quarterly National...

    • gov.uk
    Updated Jun 30, 2025
    + more versions
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    HM Treasury (2025). GDP deflators at market prices, and money GDP June 2025 (Quarterly National Accounts) [Dataset]. https://www.gov.uk/government/statistics/gdp-deflators-at-market-prices-and-money-gdp-june-2025-quarterly-national-accounts
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    Dataset updated
    Jun 30, 2025
    Dataset provided by
    GOV.UK
    Authors
    HM Treasury
    Description

    A series for the GDP deflator in index form is produced by the Treasury from data provided by the Office for National Statistics (ONS) and the Office for Budget Responsibility (OBR). GDP deflator outturn are based on the ONS Quarterly National Accounts release (at the end of each quarter). However, a more recent version of ONS GDP outturn may be used depending on when the OBR updates its GDP deflator forecasts (usually at Budget and Autumn Statement).

    Outturn data covering the years 1955-56 to 2024-25 (1955 to 2024) are based on the Quarterly National Accounts, 30 June 2025.

    Forecasts covering periods 2025-26 to 2029-30 (2025 to 2029) are from the OBR as at the Spring Statement 26 March 2025.

    GDP deflators for financial years 1955-56 to 2024-25 have been taken directly from ONS series L8GG. GDP deflators for calendar years 1955 to 2024 have been taken from ONS series MNF2. Non-seasonally adjusted money GDP for calendar and financial years are taken from ONS series BKTL. For financial years only, seasonally adjusted money GDP series YBHA has also been included.

    The next GDP deflator update will be shortly after the ONS Quarterly National Accounts release scheduled for 30 September 2025.

  19. Quarterly GDP growth of the UK 2022-2025

    • statista.com
    Updated Jun 30, 2025
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    Statista (2025). Quarterly GDP growth of the UK 2022-2025 [Dataset]. https://www.statista.com/statistics/970941/quarterly-gdp-growth-uk/
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    Dataset updated
    Jun 30, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United Kingdom
    Description

    The UK economy grew by 0.7 percent in the first quarter of 2025, compared with 0.1 percent growth in the previous quarter. After ending 2023 in recession, the UK economy grew strongly in the first half of 2024, growing by 0.8 percent in Q1, and 0.4 percent in Q2, with growth slowing in the second half of the year. In the third quarter of 2020 the UK experienced record setting growth of 16.8 percent, which itself followed the record 20.3 percent contraction in Q2 2020. Growing economy key to Labour's plans Since winning the 2024 general election, the UK's Labour Party have seen their popularity fall substantially. In February 2025, the government's approval rating fell to a low of -54 percent, making them almost as disliked as the Conservatives just before the last election. A string of unpopular policies since taking office have taken a heavy toll on support for the government. Labour hope they can reverse their declining popularity by growing the economy, which has underperformed for several years, and when measured in GDP per capita, fell in 2023, and 2024. Steady labor market trends set to continue? After a robust 2022, the UK labor market remained resilient throughout 2023 and 2024. The unemployment rate at the end of 2024 was 4.4 percent, up from four percent at the start of the year, but still one of the lowest rates on record. While the average number of job vacancies has been falling since a May 2022 peak, there was a slight increase in January 2025 when compared with the previous month. The more concerning aspect of the labor market, from the government's perspective, are the high levels of economic inactivity due to long-term sickness, which reached a peak of 2.84 million in late 2023, and remained at high levels throughout 2024.

  20. GDP growth forecast: European Union, U.S., U.K. and Germany 2010-2025

    • statista.com
    • ai-chatbox.pro
    Updated Jul 4, 2025
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    Statista (2025). GDP growth forecast: European Union, U.S., U.K. and Germany 2010-2025 [Dataset]. https://www.statista.com/statistics/369222/gdp-growth-forecast-western-europe-vs-major-economies/
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    Dataset updated
    Jul 4, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States, Europe
    Description

    Across the United States, the United Kingdom, Germany, and the European Union, gross domestic products (GDP) decreased in 2020 as a result of the COVID-19 pandemic. However, by 2021, growth rates were positive in all four areas again. The United Kingdom, Germany, and the European Union all experiencing slow economic growth in 2023 amid high inflation, with Germany even seeing an economic recession. GDP and its components GDP refers to the total market value of all goods and services that are produced within a country per year. It is composed of government spending, consumption, business investments and net exports. It is an important indicator to measure the economic strength of a country. Economists rely on a variety of factors when predicting the future performance of the GDP. Inflation rate is one of the economic indicators providing insight into the future behavior of households, which make up a significant proportion of GDP. Projections are based on the past performance of such information. Future considerations Some factors can be more easily predicted than others. For example, projections of the annual inflation rate of the United States are easy to come by. However, the intensity and impact of something like Brexit is difficult to predict. Moreover, the occurrence and impact of events such as the COVID-19 pandemic and Russia's war in Ukraine is difficult to foresee. Hence, actual GDP growth may be higher or lower than the original estimates.

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Statista (2025). Monthly GDP growth of the UK 2022-2025 [Dataset]. https://www.statista.com/statistics/941233/monthly-gdp-growth-uk/
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Monthly GDP growth of the UK 2022-2025

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Dataset updated
Jul 11, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Time period covered
May 2023 - May 2025
Area covered
United Kingdom
Description

The UK economy shrank by 0.1 percent in May 2025 after shrinking by 0.3 percent in April. Since a huge decline in GDP in April 2020, the UK economy has gradually recovered and is now around 4.4 percent larger than it was before the COVID-19 pandemic. After the initial recovery from the pandemic, however, the UK economy has effectively flatlined, fluctuating between low growth and small contractions since January 2022. Labour banking on growth to turn around fortunes in 2025 In February 2025, just over half a year after winning the last general election, the approval rating for the new Labour government fell to a low of -48 percent. Furthermore, the Prime Minister, Keir Starmer was not only less popular than the new Conservative leader, Kemi Badenoch, but also the leader of the Reform Party, Nigel Farage, whose party have surged in opinion polls recently. This remarkable decline in popularity for the new government is, in some part, due to a deliberate policy of making tough decisions early. Arguably, the most damaging of these policies was the withdrawal of the winter fuel allowance for some pensioners, although other factors such as a controversy about gifts and donations also hurt the government. While Labour aims to restore the UK's economic and political credibility in the long term, they will certainly hope for some good economic news sooner rather than later. Economy bounces back in 2024 after ending 2023 in recession Due to two consecutive quarters of negative economic growth, in late 2023 the UK economy ended the year in recession. After not growing at all in the second quarter of 2023, UK GDP fell by 0.1 percent in the third quarter, and then by 0.3 percent in the last quarter. For the whole of 2023, the economy grew by 0.4 percent compared to 2022, and for 2024 is forecast to have grown by 1.1 percent. During the first two quarters of 2024, UK GDP grew by 0.7 percent, and 0.4 percent, with this relatively strong growth followed by zero percent growth in the third quarter of the year. Although the economy had started to grow again by the time of the 2024 general election, this was not enough to save the Conservative government at the time. Despite usually seen as the best party for handling the economy, the Conservative's economic competency was behind that of Labour on the eve of the 2024 election.

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