GDP international comparisons: Economic indicators

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 Q3 2024, UK GDP was flat (0.0% growth) compared with the previous quarter (Q2 2024), slower than 0.4% in Q2. GDP growth in the Eurozone was 0.4% in Q3 2024, while US GDP rose by 0.8% over the quarter.

GDP growth in recent years

UK GDP in Q3 2024 was 2.9% above its pre-pandemic level of Q4 2019. This compares with Eurozone GDP being 4.6% higher, with GDP in Germany only 0.1% higher. The US had the highest GDP growth among G7 economies over this period at 11.5%. 

OECD and IMF forecasts

On 4 December, the OECD published new forecasts for the world economy. The OECD said the global economy had remained resilient in 2024, but “risks are casting a shadow” over the outlook. The OECD lifted its forecast for UK GDP growth in 2025 from 1.2% to 1.7%, boosted by an increase in public spending announced at the Autumn Budget

On 22 October, the IMF published new forecasts for the world economy. The IMF expects global growth to remain stable but underwhelming. Meanwhile, its chief economist said that “it looks like the global battle against inflation has largely been won“. The IMF lifted its forecast for UK GDP growth in 2024 from 0.7% to 1.1%. It left its forecast for UK GDP growth in 2025 unchanged at 1.5%.

Next updates

This page is updated when new data is published. The next source updates will be:

• OECD, data table showing latest GDP growth data for G7

• IMF, World Economic Outlook update, 17 January 2025

• OECD, Interim Economic Outlook, February/March 2025