All level estimates in this release are presented in 2022 prices. This means estimates from 2023 onwards are not fully adjusted for inflation and it is likely these would be higher if presented in later prices, although growth rates would be unchanged.
In June 2025, these early estimates indicate that GVA by included DCMS sectors grew by around 1% compared to May 2025, while GVA by the UK as a whole grew by 0.4%.
Looking at the quarter as a whole, in the three months to June 2025, GVA by the included DCMS sectors is estimated to have grown by 1% compared with the three months to March 2025, while the UK economy as a whole is estimated to have grown by 0.3%.
Since February 2020 (pre-pandemic), these early estimates indicate that included DCMS sector GVA has grown by around 6% compared to 4.9% for the UK economy, though trends vary by sector.
21 August 2025
The DCMS Sector total reported here includes civil society, creative industries, cultural sector, gambling and sport. Tourism is not included as the data is not available (see note in data table).
These Economic Estimates are Official Statistics, used to provide an early estimate of the economic contribution of DCMS sectors, in terms of gross value added (GVA), for the period January 2019 to June 2025. Estimates for the most recent months are particularly uncertain but can provide an early indicator of changes in GVA. This current release contains first estimates for April to June 2025.
Estimates are in chained volume measures (i.e. have been adjusted for inflation), at 2022 prices, and are seasonally adjusted. These latest monthly estimates should only be used to illustrate general trends, not used as definitive figures.
You can use these estimates to:
You should not use these estimates to:
The estimates are calculated based on published ONS data sources including the Index of Services and Index of Production.
These data sources provide an estimate of the monthly change in GVA for all UK industries. However, the data is only available for broader industry groups, whereas DCMS sectors are defined at a more detailed industrial level. For example, GVA for ‘cultural education’ (a sub-sector of the cultural sector within the DCMS sectors) is estimated based on the trend for all education. Sectors such as ‘cultural education’ may have been affected differently by COVID-19 compared to education in general. These estimates are also based on the composition of the economy in 2022. Overall, this means the accuracy of monthly GVA for DCMS sectors is likely to be lower for months in 2020 and 2021.
The technical guidance contains further information about data sources, methodology, and the validation and accuracy of these estimates. The latest version of this guidance was published in November 2023.
These statistics cover the contributions of the following sectors to the UK economy.
Users should note that there is overlap between DCMS sector definitions and that several cultural sector industries are simultaneously creative industries.
Monthly estimates of tourism GVA are not available at present, due to a lack of suitable data. The latest estimates of tourism GVA are available in our annual GVA publication.
We aim to continuously improve the quality of estimates and better meet user needs. We welcome feedback on this release. Feedback should be sent via email to evidence@dcms.gov.uk.
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United States Multivariate Core Trend (MCT) Inflation: Median data was reported at 3.010 % in Mar 2025. This records an increase from the previous number of 2.900 % for Feb 2025. United States Multivariate Core Trend (MCT) Inflation: Median data is updated monthly, averaging 2.410 % from Jan 1960 (Median) to Mar 2025, with 783 observations. The data reached an all-time high of 11.120 % in Jul 1974 and a record low of 0.760 % in Aug 1962. United States Multivariate Core Trend (MCT) Inflation: Median data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.I027: Multivariate Core Trend Inflation.
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Turkey Google Search Trends: Economic Measures: Bankruptcy data was reported at 1.000 Score in 14 May 2025. This stayed constant from the previous number of 1.000 Score for 13 May 2025. Turkey Google Search Trends: Economic Measures: Bankruptcy data is updated daily, averaging 1.000 Score from Dec 2021 (Median) to 14 May 2025, with 1261 observations. The data reached an all-time high of 6.000 Score in 02 Dec 2024 and a record low of 0.000 Score in 30 Mar 2025. Turkey Google Search Trends: Economic Measures: Bankruptcy data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Turkey – Table TR.Google.GT: Google Search Trends: by Categories.
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Inflation Rate in the United States remained unchanged at 2.70 percent in July. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
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Unemployment Rate in the United States increased to 4.20 percent in July from 4.10 percent in June of 2025. This dataset provides the latest reported value for - United States Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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Core consumer prices in the United States increased 3.10 percent in July of 2025 over the same month in the previous year. This dataset provides - United States Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
The UK economy grew by 0.4 percent in May 2025 after shrinking by 0.1 percent in May. 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.
In January 2025, the unadjusted consumer price index (CPI) of all items for urban consumers in the United States amounted to about 317.67. The data represents U.S. city averages. The base period was 1982-84=100. The CPI is defined by the United States Bureau of Labor Statistics as “a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services”. The annual consumer price index for urban consumers in the U.S. can be accessed here. Consumer Price Index The Consumer Price Index (CPI) began in 1919 under the Bureau of Labor Statistics and is published every month. The CPI for all urban consumers includes urban households in Metropolitan Statistical Areas and regions with over 2,500 inhabitants, as well as non-farm consumers living in rural regions. This index was established in 1978 and includes about 80 percent of the U.S. population. The monthly CPI of urban consumers in the United States increased from 292.3 in May 2022 to 304.13 in 2023. Inflation tends not to impact everyone equally for a variety of reasons, including geography - CPI often differs between regions, with a high of 287.49 in the Western region as of 2021. There are also disparities in inflation between income quartiles, in which inflation is generally felt more heavily by lower income households. The annual CPI in the United States has increased steadily over the past two decades, from 140.3 in 1992 to 292.56 in 2022. A forecast of the CPI expects this positive trend to continue, reaching 325.6 by 2027. As of March 2023, the CPI of the nation’s education had increased by 3.5 percent. Further, in the same month costs of recreation, rent, housing, medical care, and food and beverages, gasoline, and transportation increased. Comparatively, the CPI in Hong Kong reached 103.3 in 2022.
In January 2025, prices had increased by three percent compared to January 2024 according to the 12-month percentage change in the consumer price index — the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of the change in price level over time. The rate of decrease in the purchasing power of money is approximately equal. A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here. InflationOne of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation. The inflationary situation in the United States had been relatively severe in 2022 due to global events relating to COVID-19, supply chain restrains, and the Russian invasion of Ukraine. More information on U.S. inflation may be found on our dedicated topic page. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3 percent in 2022. This means that the purchasing power of the U.S. dollar has weakened in recent years. The purchasing power is the extent to which a person has available funds to make purchases. According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 258.84 in 2020 and is forecasted to grow up to 325.6 by 2027, compared to the base period from 1982 to 1984. The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States was 0.1 percent in March 2023 compared to the previous month. In 2022, countries all around the world are experienced high levels of inflation. Although Brazil already had an inflation rate of 8.3 percent in 2021, compared to the previous year, while the inflation rate in China stood at 0.85 percent.
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Google Search Trends: Economic Measures: Mortgage Loan data was reported at 4.000 Score in 14 May 2025. This records an increase from the previous number of 3.000 Score for 13 May 2025. Google Search Trends: Economic Measures: Mortgage Loan data is updated daily, averaging 3.000 Score from Dec 2021 (Median) to 14 May 2025, with 1261 observations. The data reached an all-time high of 34.000 Score in 21 Mar 2023 and a record low of 0.000 Score in 30 Mar 2025. Google Search Trends: Economic Measures: Mortgage Loan data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Pakistan – Table PK.Google.GT: Google Search Trends: by Categories.
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Bulgaria Google Search Trends: Economic Measures: Mortgage Loan data was reported at 24.000 Score in 14 May 2025. This records a decrease from the previous number of 27.000 Score for 13 May 2025. Bulgaria Google Search Trends: Economic Measures: Mortgage Loan data is updated daily, averaging 20.000 Score from Dec 2021 (Median) to 14 May 2025, with 1261 observations. The data reached an all-time high of 54.000 Score in 29 May 2024 and a record low of 0.000 Score in 15 Mar 2025. Bulgaria Google Search Trends: Economic Measures: Mortgage Loan data remains active status in CEIC and is reported by Google Trends. The data is categorized under Global Database’s Bulgaria – Table BG.Google.GT: Google Search Trends: by Categories.
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Begin-Period-Cashflow Time Series for Japan Real Estate Investment Corp. Japan Real Estate Investment Corporation (the "Company") was established on May 11, 2001 pursuant to Japan's Act on Investment Trusts and Investment Corporations ("ITA"). The Company was listed on the real estate investment trust market of the Tokyo Stock Exchange ("TSE") on September 10, 2001 (Securities Code: 8952). Since its IPO, the size of the Company's assets (total acquisition price) has grown steadily, expanding from 92.8 billion yen to 1,167.7 billion yen as of March 31, 2025. Over the same period, the Company's portfolio has also increased from 20 properties to 77 properties. During the March 2025 period (October 1, 2024 to March 31, 2025), the Japanese economy continued to demonstrate a gradual recovery, despite some lingering stagnation in capital investment and personal consumption due to inflation and other factors. On the other hand, given the policy rate hikes by the Bank of Japan, the shift in global interest rates to a lowering phase, the impact of U.S. policy trends, such as trade policy and other factors, interest rate trends, overseas political and economic developments, and price trends, including resource prices, will continue to bear watching. In the office leasing market, demand continues to grow for leases driven by business expansion and relocations aimed at improving location. As a result, the vacancy rate in central Tokyo continues to decline gradually. In addition, rent levels are rising at an accelerating rate. In light of the prevailing conditions in the leasing market, the Company is striving to attract new tenants through strategic leasing activities and to further enhance the satisfaction level of existing tenants by adding value to its portfolio properties with the aim of maintaining and improving the occupancy rate and realizing sustainable income growth across the entire portfolio. In the real estate trading market, despite the Bank of Japan normalizing its monetary policy, the appetite for property acquisition among both domestic and foreign investors remains firm, backed ma
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Stock Price Time Series for Japan Real Estate Investment Corp. Japan Real Estate Investment Corporation (the "Company") was established on May 11, 2001 pursuant to Japan's Act on Investment Trusts and Investment Corporations ("ITA"). The Company was listed on the real estate investment trust market of the Tokyo Stock Exchange ("TSE") on September 10, 2001 (Securities Code: 8952). Since its IPO, the size of the Company's assets (total acquisition price) has grown steadily, expanding from 92.8 billion yen to 1,167.7 billion yen as of March 31, 2025. Over the same period, the Company's portfolio has also increased from 20 properties to 77 properties. During the March 2025 period (October 1, 2024 to March 31, 2025), the Japanese economy continued to demonstrate a gradual recovery, despite some lingering stagnation in capital investment and personal consumption due to inflation and other factors. On the other hand, given the policy rate hikes by the Bank of Japan, the shift in global interest rates to a lowering phase, the impact of U.S. policy trends, such as trade policy and other factors, interest rate trends, overseas political and economic developments, and price trends, including resource prices, will continue to bear watching. In the office leasing market, demand continues to grow for leases driven by business expansion and relocations aimed at improving location. As a result, the vacancy rate in central Tokyo continues to decline gradually. In addition, rent levels are rising at an accelerating rate. In light of the prevailing conditions in the leasing market, the Company is striving to attract new tenants through strategic leasing activities and to further enhance the satisfaction level of existing tenants by adding value to its portfolio properties with the aim of maintaining and improving the occupancy rate and realizing sustainable income growth across the entire portfolio. In the real estate trading market, despite the Bank of Japan normalizing its monetary policy, the appetite for property acquisition among both domestic and foreign investors remains firm, backed ma
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Consumer Price Index CPI in the United States increased to 323.05 points in July from 322.56 points in June of 2025. This dataset provides the latest reported value for - United States Consumer Price Index (CPI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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The United States recorded a trade deficit of 60.18 USD Billion in June of 2025. This dataset provides the latest reported value for - United States Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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Personal Spending in the United States increased 0.50 percent in July of 2025 over the previous month. This dataset provides the latest reported value for - United States Personal Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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Consumer Confidence in the United States decreased to 58.20 points in August from 61.70 points in July of 2025. This dataset provides the latest reported value for - United States Consumer Sentiment - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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Housing Starts in the United States increased to 1428 Thousand units in July from 1358 Thousand units in June of 2025. This dataset provides the latest reported value for - United States Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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Full Year GDP Growth in India decreased to 6.50 percent in 2025 from 9.20 percent in 2024. This dataset includes a chart with historical data for India Full Year GDP Growth.
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Business Confidence in the United States decreased to 48 points in July from 49 points in June of 2025. This dataset provides the latest reported value for - United States ISM Purchasing Managers Index (PMI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
All level estimates in this release are presented in 2022 prices. This means estimates from 2023 onwards are not fully adjusted for inflation and it is likely these would be higher if presented in later prices, although growth rates would be unchanged.
In June 2025, these early estimates indicate that GVA by included DCMS sectors grew by around 1% compared to May 2025, while GVA by the UK as a whole grew by 0.4%.
Looking at the quarter as a whole, in the three months to June 2025, GVA by the included DCMS sectors is estimated to have grown by 1% compared with the three months to March 2025, while the UK economy as a whole is estimated to have grown by 0.3%.
Since February 2020 (pre-pandemic), these early estimates indicate that included DCMS sector GVA has grown by around 6% compared to 4.9% for the UK economy, though trends vary by sector.
21 August 2025
The DCMS Sector total reported here includes civil society, creative industries, cultural sector, gambling and sport. Tourism is not included as the data is not available (see note in data table).
These Economic Estimates are Official Statistics, used to provide an early estimate of the economic contribution of DCMS sectors, in terms of gross value added (GVA), for the period January 2019 to June 2025. Estimates for the most recent months are particularly uncertain but can provide an early indicator of changes in GVA. This current release contains first estimates for April to June 2025.
Estimates are in chained volume measures (i.e. have been adjusted for inflation), at 2022 prices, and are seasonally adjusted. These latest monthly estimates should only be used to illustrate general trends, not used as definitive figures.
You can use these estimates to:
You should not use these estimates to:
The estimates are calculated based on published ONS data sources including the Index of Services and Index of Production.
These data sources provide an estimate of the monthly change in GVA for all UK industries. However, the data is only available for broader industry groups, whereas DCMS sectors are defined at a more detailed industrial level. For example, GVA for ‘cultural education’ (a sub-sector of the cultural sector within the DCMS sectors) is estimated based on the trend for all education. Sectors such as ‘cultural education’ may have been affected differently by COVID-19 compared to education in general. These estimates are also based on the composition of the economy in 2022. Overall, this means the accuracy of monthly GVA for DCMS sectors is likely to be lower for months in 2020 and 2021.
The technical guidance contains further information about data sources, methodology, and the validation and accuracy of these estimates. The latest version of this guidance was published in November 2023.
These statistics cover the contributions of the following sectors to the UK economy.
Users should note that there is overlap between DCMS sector definitions and that several cultural sector industries are simultaneously creative industries.
Monthly estimates of tourism GVA are not available at present, due to a lack of suitable data. The latest estimates of tourism GVA are available in our annual GVA publication.
We aim to continuously improve the quality of estimates and better meet user needs. We welcome feedback on this release. Feedback should be sent via email to evidence@dcms.gov.uk.