Data on Economic Growth in UK

Post War Economic Growth in UK.

This shows the change in real GDP.

real-gdp-1955
UK real GDP since 1955. Increase in national output

Economic Growth in past two decades.

This shows figures for quarterly growth

The two recessions of 1991 and 2009. The last quarter of 2010 showed a ‘double dip decline in output’ with negative growth of -0.6%.

The period of growth from 1992 to 1997 was known as the ‘great moderation‘ the longest period of unbroken economic growth on record. The growth also occurred with low inflation, though it masked a bubble in asset and financial markets.

The highest growth occurred in the Lawson boom of the late 1980s.

Economic Growth vs Inflation

Using figures for annual growth rates

economic growth

Annual Growth rates vs Quarterly Growth Rates.

Statistics are published for annual growth rates (growth rate in 12 months of year) and quarterly growth rates (growth rates for 3 months)

Quarterly growth rates are more volatile. If we have a quarterly growth rates of 1.2%, we might see this is equal to an annualised growth rate of 1.2% * 4 = 4.8%

Data for Economic Growth

YearGrowth
19493.3
19503.2
19512.7
19520.1
19533.8
19544.1
19553.5
19560.9
19571.7
19580.3
19594.3
19605.3
19612.3
19621.1
19634.3
19645.5
19652.2
19661.9
19672.5
19684.2
19692.1
19702.2
19712.1
19723.7
19737.2
1974-1.3
1975-0.6
19762.6
19772.4
19783.2
19792.7
1980-2
1981-1.2
19822.2
19833.7
19842.7
19853.6
19864
19874.6
19885
19892.3
19900.8
1991-1.4
19920.1
19932.2
19944.3
19953.1
19962.9
19973.3
19983.6
19993.5
20003.9
20012.5
20022.1
20032.8
20043
20052.2
20062.8
20072.7
2008-0.1
2009-4.9
20101.5

Data on Economic growth from ONS was hard to find. But, the ONS did help me out. Go to UK national income accounts time series data. X13 offers economic growth rates. (ONS Link)

3 thoughts on “Data on Economic Growth in UK

  1. In 2009, both inflation and growth went down, but in 1991, the inflation went up, even though the growth went down. What could be the reason for the difference in behavior?

  2. Pingback: [NEW SITE » Does Full Reserve Banking Equal Monetarism?

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