GDP international comparisons: Economic indicators

Daniel Harari

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GDP international comparisons: Economic indicators (140 KB , PDF)

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Economic indicators are quick-read summaries of the latest data focusing on different aspects of the UK economy. The full suite of indicators can be found on the main Economic Indicators page.

Latest GDP data

In Q1 2025, UK GDP grew by 0.7% compared with the previous quarter (Q4 2024). In the Eurozone, GDP rose by 0.6%, with Germany growing by 0.4%, France by 0.1% and Ireland by 9.7% (due to a huge increase in output of multi-national firms). US GDP fell by 0.1% in the quarter.

Table showing latest GDP data for the major G7 economies, as described in the article text

Source: OECD data explorer, Quarterly real GDP growth of G7

GDP growth in recent years

UK GDP in Q1 2025 was 4.2% above its pre-pandemic level of Q4 2019. This compares with Eurozone GDP being 5.8% higher, with GDP in Germany up by 0.3%. The US had the highest GDP growth among G7 economies over this period at 12.0%.

Chart showing G7 GDP growth since the pandemic, as described in the article text

Source: Calculations based on OECD data explorer, Quarterly GDP level of G7 and Eurozone

OECD and IMF forecasts

On 3 June, the OECD published new forecasts for the world economy. The OECD said the outlook is “becoming increasingly challenging”, citing the risk higher trade barriers and elevated policy uncertainty pose to growth.The OECD slightly lowered its forecasts for UK GDP growth in 2025 from 1.4% to 1.3% and downgraded 2026 forecasts from 1.2% to 1.0% noting adverse effects from heightened trade tensions and uncertainty

OECD G7 GDP growth forecasts for 2025 - the US is highest at 1.6%, Germany lowest at 0.4%. The UK is second highest at 1.3%

Source: OECD, Economic Outlook, June 2025

On 22 April, the IMF published new forecasts for the world economy. The IMF downgraded its global growth forecasts due to higher US tariffs and increased uncertainty. It also raised its inflation forecasts. The IMF lowered its forecast for UK GDP growth in 2025 from 1.6% to 1.1%, citing some negative impact from tariffs and some from UK-specific factors.

IMF forecasts for GDP growth in 2025 for G7 countries. The UK's forecast of 1.1% growth is third highest in the G7, behind Canada (1.4%) and the US (1.8%) but above France (0.6%) and Germany (0.0%)