uk economy stats 2025

annual growth rate

1.1% (2024)

quaterly growth rate

0.1% , 0%

annual growth forecast(bank of england)

0.75%

output gap (difference in predicted output vs real output)

-0.6%

GDP per capita

£36,000

total GDP

£2.851 trillion

the concentration of industrys making up total GDP number

services 79%,manufacturing 14%,construction 6%,Agriculture 1%

unemployment rate

4.4%

employment rate

75.1%

economic inactivity rate

21.4%

wage growth

5.9%

job vacancies(openings)

falling

youth unemployment

13.3%

consumer confidence

very weak

UK GDP Growth Q1 2025

UK GDP grew by 0.7% in Q1 2025 exceeding forecasts.

UK CPI Inflation March 2025

Inflation was 2.6% in March 2025, down from 3.4% in February 2025.

BoE Interest Rate May 2025

On 8 May 2025, the Bank of England cut interest rates to 4.25%.

Unemployment Rate (Jan–Mar 2025)

UK unemployment rate rose to 4.5% in the three months to March 2025.

Current Account Deficit Q4 2024

£21bn (2.9% of GDP) in Q4 2024.

UK Goods Exports Feb 2025

Exports to the US rose by £0.5bn in Feb 2025

BoE Inflation Forecast Q3 2025

Inflation expected to peak at 3.5% in Q3 2025 before falling toward 2% by 2027.

Bank of England Rate Decision Split

May 2025 decision was 5-4: some members wanted larger or no cut.

Huw Pill (BoE) Comment May 2025

Warned inflation may be persistent and high rates may be needed.

Goldman Sachs UK Growth Forecast May 2025

GS raised UK growth forecast due to better global conditions and trade.