Service industries: Data for the sector that incorporates the retail sector, the financial sector, the public sector, business administration and cultural activities.
Documents to download
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GDP - International Comparisons: Key Economic Indicators (106 KB, PDF)
UK GDP rose by 15.5% in Q3 2020, compared with the previous quarter. This follows a 19.8% deceline in Q2 2020. Compared with the same quarter a year before (that is, Q3 2019) GDP was -9.6%. In the Eurozone it was -4.4% and in the US it was -2.9%.
Headline GDP growth figures across countries are not always 100% comparable. For example, during the Covid-19 outbreak, statisticians in different countries have taken different approaches to calculating output in the education and health sectors.
Forecasts
The OECD’s latest forecasts, published 1 December, project a sharp contraction in the world economy in 2020 due to Covid-19. The UK is forecast to see a 11.2% fall in GDP in 2020, with 4.2% growth in 2021.
The IMF’s latest forecasts, published 13 October, project a large contraction in the world economy in 2020 due to Covid-19. The UK is forecast to see a GDP decline by 10.2% in 2020, with GDP growth of 6.3% in 2021.
Documents to download
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GDP - International Comparisons: Key Economic Indicators (106 KB, PDF)
Related posts
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This note gives some key statistics on UK-Commonwealth trade.
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Manufacturing: Data on manufacturing jobs, output and producer confidence.
