In 2024, the gross domestic product (GDP) of the United Kingdom grew by 0.9 percent and is expected to grow by just one percent in 2025 and by 1.9 percent in 2026. Growth is expected to slow down to 1.8 percent in 2027, and then grow by 1.7, and 1.8 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 9.4 percent contraction in 2020, with the economy recovering somewhat in 2021, when the economy grew by 7.6 percent. UK growth downgraded in 2025 Although the economy is still expected to grow in 2025, the one percent growth anticipated in this forecast has been halved from two 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 3.2 percent predicated, up from 2.6 percent in the last forecast. Unemployment is also anticipated to be higher than initially thought, with the annual unemployment rate likely to be 4.5 percent instead of 4.1 percent. Long-term growth problems In the last two quarters of 2023, the UK economy shrank by 0.1 percent in Q3 and by 0.3 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.

This monthly compendium of statistics and articles on the UK economy was been replaced by the Economic and Labour Market Review. Source agency: Office for National Statistics Designation: Official Statistics not designated as National Statistics Language: English Alternative title: ET

The United Kingdom's economy grew by 1.1 percent in 2024, after a growth rate of 0.3 percent in 2023, 5.1 percent in 2022, 8.5 percent in 2021, and a record ten percent fall in 2020. During the provided time period, the biggest annual fall in gross domestic product before 2020 occurred in 2009, when the UK economy contracted by 4.6 percent at the height of the global financial crisis of the late 2000s. Before 2021, the year with the highest annual GDP growth rate was 1973, when the UK economy grew by 6.5 percent. UK economy growing but GDP per capita falling In 2022, the UK's GDP per capita amounted to approximately 37,371 pounds, with this falling to 37,028 pounds in 2023, and 36,977 pounds in 2024. While the UK economy as a whole grew during this time, the UK's population grew at a faster rate, resulting in the negative growth in GDP per capita. This suggests the UK economy's struggles with productivity are not only stagnating, but getting worse. The relatively poor economic performance of the UK in recent years has not gone unnoticed by the electorate, with the economy consistently seen as the most important issue for voters since 2022. Recent shocks to UK economy In the second quarter of 2020, the UK economy shrank by a record 20.3 percent at the height of the COVID-19 pandemic. Although there was a relatively swift economic recovery initially, the economy has struggled to grow much beyond its pre-pandemic size, and was only around 3.1 percent larger in December 2024, when compared with December 2019. Although the labor market has generally been quite resilient during this time, a long twenty-month period between 2021 and 2023 saw prices rise faster than wages, and inflation surge to a high of 11.1 percent in October 2022.

Government spending in the United Kingdom was approximately 44.7 percent of GDP in 2024/25, compared with 39.6 percent in 2019/20.

The government of the United Kingdom borrowed approximately 2.6 percent worth of its GDP in the 2024/25 financial year, compared with 2.3 percent in 2023/24. In 2020/21, government borrowing reached 11.6 percent of GDP, due to increased financial support to public services during the COVID-19 pandemic, combined with reduced revenue because of societal lockdowns.

The Regional Economic Indicators examine regional differences within the UK economy. These are discussed via an ongoing series of articles focusing on the measurement of economic performance, welfare, productivity and the drivers of productivity across the UK regions. As well as providing the latest analysis of the relevant data, the articles examine the issues surrounding measurement at the regional level, in particular seeking to clarify the indicators best suited for different uses. Source agency: Office for National Statistics Designation: Experimental Official Statistics Language: English Alternative title: Regional Economic Analysis

An article analysing the statistical relationship between Office for National Statistics (ONS) and Chartered Institute of Purchasing and Supply (CIPS) data.

Source agency: Office for National Statistics

Designation: Supporting material

Language: English

Alternative title: External Coherence

The economic landscape of the United Kingdom has been significantly shaped by the intertwined issues of Brexit, COVID-19, and their interconnected impacts. Despite the country’s robust and diverse economy, the disruptions caused by Brexit and the COVID-19 pandemic have created uncertainty and upheaval for both businesses and individuals. Recognizing the magnitude of these challenges, academic literature has directed its attention toward conducting immediate research in this crucial area. This study sets out to investigate key economic factors that have influenced various sectors of the UK economy and have broader economic implications within the context of Brexit and COVID-19. The factors under scrutiny include the unemployment rate, GDP index, earnings, and trade. To accomplish this, a range of data analysis tools and techniques were employed, including the Box-Jenkins method, neural network modeling, Google Trend analysis, and Twitter-sentiment analysis. The analysis encompassed different periods: pre-Brexit (2011-2016), Brexit (2016-2020), the COVID-19 period, and post-Brexit (2020-2021). The findings of the analysis offer intriguing insights spanning the past decade. For instance, the unemployment rate displayed a downward trend until 2020 but experienced a spike in 2021, persisting for a six-month period. Meanwhile, total earnings per week exhibited a gradual increase over time, and the GDP index demonstrated an upward trajectory until 2020 but declined during the COVID-19 period. Notably, trade experienced the most significant decline following both Brexit and the COVID-19 pandemic. Furthermore, the impact of these events exhibited variations across the UK’s four regions and twelve industries. Wales and Northern Ireland emerged as the regions most affected by Brexit and COVID-19, with industries such as accommodation, construction, and wholesale trade particularly impacted in terms of earnings and employment levels. Conversely, industries such as finance, science, and health demonstrated an increased contribution to the UK’s total GDP in the post-Brexit period, indicating some positive outcomes. It is worth highlighting that the impact of these economic factors was more pronounced on men than on women. Among all the variables analyzed, trade suffered the most severe consequences in the UK. By early 2021, the macroeconomic situation in the country was characterized by a simple dynamic: economic demand rebounded at a faster pace than supply, leading to shortages, bottlenecks, and inflation. The findings of this research carry significant value for the UK government and businesses, empowering them to adapt and innovate based on forecasts to navigate the challenges posed by Brexit and COVID-19. By doing so, they can promote long-term economic growth and effectively address the disruptions caused by these interrelated issues.

505 Economics is on a mission to make academic economics accessible. We've developed the first monthly sub-national GDP data for EU and UK regions from January 2015 onwards.

Our GDP dataset uses luminosity as a proxy for GDP. The brighter a place, the more economic activity that place tends to have.

We produce the data using high-resolution night time satellite imagery and Artificial Intelligence.

This builds on our academic research at the London School of Economics, and we're producing the dataset in collaboration with the European Space Agency BIC UK.

We have published peer-reviewed academic articles on the usage of luminosity as an accurate proxy for GDP.

Key features:

• Granular: Data is provided at the following geographical units:
  • NUTS3 (e.g. London Boroughs),
  • NUTS2 (e.g. London),
  • NUTS1 (e.g. England), and
  • NUTS0 (e.g. United Kingdom) levels.
• Frequent: Data is provided every month from January 2015. This is more frequent than the annualised official datasets.
• Timely: Data is provided with a one month lag (i.e. the data for January 2021 was published at the end of February 2021). This is substantially quicker than the 18 month lag of official datasets.
• Accurate: Our dataset uses Deep Learning to maximise accuracy (RMSE 1.2%).

The dataset can be used by:

• Governments and policy makers - to monitor the performance of local economies, to measure the localised impact of policies, and to get a real-time indication of economic activity.
• Financial services - to get an indication of national-level GDP before official GDP statistics are released
• Engineering companies - to monitor and evaluate the localised impact of infrastructure projects
• Consultancies - to forecast the localised impact of specific projects, to retrospectively monitor and evaluate the localised impact of existing projects
• Economics firms - to create macro forecasts at the national and sub-national level, to assess the impact of policy interventions.
• Academia / Think Tanks - to conduct novel research at the local level. E.g. our dataset can be used to measure the impact of localised COVID-19 lockdowns.

We have created this dataset for all UK sub-national regions, 28 EU Countries and Switzerland.

UK air pollution removal A GeoPackage (see https://www.geopackage.org/) that contains the spatial data used in this article:https://www.ons.gov.uk/economy/environmentalaccounts/articles/ukairpollutionremovalhowmuchpollutiondoesvegetationremoveinyourarea/2018-07-30The methodology used to develop estimates for the valuation of air pollution in ecosystem accounts can be found here:https://www.ons.gov.uk/economy/environmentalaccounts/articles/developingestimatesforthevaluationofairpollutioninecosystemaccounts/2017-07-25Download file size: 110 MB

Annexes to the article detailing the provisional Blue Book 2018 and Pink Book 2018 data for UK trade for the period 1997 to 2016.

The gross domestic product of the United Kingdom in 2024 was around 2.78 trillion British pounds, an increase when compared to the previous year, when UK GDP amounted to about 2.75 trillion pounds. The significant drop in GDP visible in 2020 was due to the COVID-19 pandemic, with the smaller declines in 2008 and 2009 because of the global financial crisis of the late 2000s. Low growth problem in the UK Despite growing by 0.9 percent in 2024, and 0.4 percent in 2023 the UK economy is not that much larger than it was before the COVID-19 pandemic. Since recovering from a huge fall in GDP in the second quarter of 2020, the UK economy has alternated between periods of contraction and low growth, with the UK even in a recession at the end of 2023. While economic growth picked up somewhat in 2024, GDP per capita is lower than it was in 2022, following two years of negative growth. UK's global share of GDP falling As of 2024, the UK had the sixth-largest economy in the world, behind the United States, China, Japan, Germany, and India. Among European nations, this meant that the UK currently has the second-largest economy in Europe, although the economy of France, Europe's third-largest economy, is of a similar size. The UK's global economic ranking will likely fall in the coming years, however, with the UK's share of global GDP expected to fall from 2.16 percent in 2025 to 2.02 percent by 2029.  

Data repository for the data underlying the Online Labour Index. See http://ilabour.oii.ox.ac.uk online-labour-index/ for details.

List of recently published analysis articles by ONS using economic statistics.

The Gross Domestic Product (GDP) in the United Kingdom expanded 0.10 percent in the third 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.

We have successfully extracted a comprehensive news dataset from CNBC, covering not only financial updates but also an extensive range of news categories relevant to diverse audiences in Europe, the US, and the UK. This dataset includes over 500,000 records, meticulously structured in JSON format for seamless integration and analysis.

Diverse News Segments for In-Depth Analysis

This extensive extraction spans multiple segments, such as:

• Business and Market Analysis: Stay updated on major companies, mergers, and acquisitions.
• Technology and Innovation: Explore developments in AI, cybersecurity, and digital transformation.
• Economic Forecasts: Access insights into GDP, employment rates, inflation, and other economic indicators.
• Geopolitical Developments: Understand the impact of political events and global trade dynamics on markets.
• Personal Finance: Learn about saving strategies, investment tips, and real estate trends.

Each record in the dataset is enriched with metadata tags, enabling precise filtering by region, sector, topic, and publication date.

Why Choose This Dataset?

The comprehensive news dataset provides real-time insights into global developments, corporate strategies, leadership changes, and sector-specific trends. Designed for media analysts, research firms, and businesses, it empowers users to perform:

• Trend Analysis
• Sentiment Analysis
• Predictive Modeling

Additionally, the JSON format ensures easy integration with analytics platforms for advanced processing.

Access More News Datasets

Looking for a rich repository of structured news data? Visit our news dataset collection to explore additional offerings tailored to your analysis needs.

Sample Dataset Available

To get a preview, check out the CSV sample of the CNBC economy articles dataset.

https://www.ons.gov.uk/economy/environmentalaccounts/articles/ukairpollutionremovalhowmuchpollutiondoesvegetationremoveinyourarea/2018-07-30The methodology used to develop estimates for the valuation of air pollution in ecosystem accounts can be found here:https://www.ons.gov.uk/economy/environmentalaccounts/articles/developingestimatesforthevaluationofairpollutioninecosystemaccounts/2017-07-25

Datasets for each of the chapters in The Blue Book 2025 including the national accounts at a glance, financial and non-financial corporations, households and non-profit institutions serving households and summary supply and use tables.