UK Gross Domestic Product: Regularly updated data on growth and forecasts.

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In the quarterly national accounts, the economic growth in the latest calendar quarter (October-December 2019) remained flat (0.0% growth) compared to the previous quarter.

The economy was also flat in November 2019-January 2020 compared to the previous quarter (August-October).

There was no growth in the services sector in the three months to January 2020, while a growth in the construction sector offset a decline in the production sector.

Looking at month-on-month growth, GDP was flat in January 2020 following growth of 0.3% in December. (Monthly figures are more volatile than quarterly estimates.)

In cash terms, GDP was £2,215 billion in 2019.

Forecasts

At the March 2020 Budget, the Office for Budget Responsibility (OBR) forecast growth of 1.1% for 2020 and 1.8% for 2021. These forecasts do not take into account the full expected impact of the Coronavirus.

The Treasury’s March 2020 survey of independent forecasts for GDP growth showed an average forecast of 0.6% for 2020 and 1.3% for 2021. These are based on forecasts from 1 March to 17 March. Therefore, they will partly take into account the expected impact of the Coronavirus, although are unlikely to incorporate the full impact.

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