UK GDP January 2027
January 15, 2027 @ 2:00 am - 3:00 am
UK GDP January 2027
Next UK GDP: Friday, at 7:00 am GMT (2:00 am ET, 7:00 am London). Covers Q-1 2026 data.
- Consensus
- Not yet published
- Prior
- 0.4% m/m and 0.4% three-month growth
- Actual
- Pending
Full schedule and background: UK GDP.
Updated
The UK GDP monthly estimate for November 2026 is due on January 15, 2027 at 7:00am London time (2:00am ET), published by the Office for National Statistics (ONS). The release covers economic output data for the three months ending November 2026, the ONS’s preferred way of smoothing out month-to-month noise in a single monthly print. Full background and the release schedule sit on the UK GDP hub page.
What is GDP and why does the monthly estimate matter?
Gross domestic product (GDP) measures the total value of goods and services produced in the UK economy over a given period. The ONS calculates it from three angles that should, in theory, arrive at the same number: what is produced (output), what is spent (expenditure) and what is earned (income). The monthly estimate is built mainly from the output approach, using survey and administrative data from businesses across services, production and construction.
Because monthly data are based on partial and less complete information than the full quarterly accounts, the ONS highlights the three-month on three-month growth rate (comparing the latest rolling quarter with the one before) as the headline figure, alongside the single-month change. Markets, the Bank of England and the Treasury all watch this release because it is the earliest official signal of whether the economy is expanding, stagnating or shrinking, well before the full quarterly GDP breakdown arrives.
Investors and currency traders use it to gauge growth momentum ahead of Bank of England interest rate decisions, since weaker-than-expected growth can raise expectations of rate cuts, while stronger growth can push back against them. It also matters for government borrowing forecasts and, indirectly, for how much room the Chancellor has for tax and spending decisions.
When is the November 2026 GDP report released?
The ONS will publish the GDP monthly estimate for November 2026 on Friday, January 15, 2027 at 7:00am GMT (2:00am ET). It appears on the ONS website as part of its regular release calendar, alongside the linked Index of Services and Index of Production data. This date has been confirmed by the ONS release calendar, not estimated.
What is the consensus forecast?
As of now, no consensus forecast has been published for the November 2026 GDP monthly estimate. Economist surveys for UK monthly GDP typically appear only in the days immediately before release, so a Reuters or Bloomberg poll median is not yet available this far in advance. Readers should check back closer to January 15, 2027 for a published consensus.
What can be shown now is the recent trend the ONS has reported. In its most recent confirmed release, covering July 2026, the ONS said monthly GDP grew by 0.4% in July, following growth of 0.3% in June and no growth in May, according to the ONS GDP monthly estimate, UK: July 2026 bulletin. Further prints for August, September and October 2026 will be published before the November data, so the true “prior” reading for this specific release will be the October 2026 estimate, due in mid-December 2026.
| Measure | Prior (three months to July 2026) | Consensus for November 2026 |
|---|---|---|
| Three-month on three-month GDP growth | 0.4% | Not yet published |
| Single-month GDP growth (July 2026) | 0.4% | Not yet published |
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Sterling could firm and gilt yields could rise, as traders price a lower chance of near-term Bank of England rate cuts | The economy grew faster than expected, which can be reassuring for jobs and incomes but may keep borrowing costs higher for longer |
| In line | Limited market reaction, since the print largely confirms existing expectations | The economy is behaving broadly as forecasters expected, so mortgage and savings rate expectations are unlikely to shift much |
| Below consensus | Sterling could soften and traders may bring forward bets on Bank of England rate cuts | Weaker growth than hoped can raise concerns about jobs and business investment, though it can also open the door to cheaper borrowing later |
These are possibilities discussed by economists and market commentators, not predictions. Reuters and Bloomberg regularly note that the Bank of England’s Monetary Policy Committee weighs growth data alongside inflation and wage figures before any rate decision, so a single GDP print rarely moves policy on its own.
Why does this release matter right now?
The UK economy has shown a choppy but broadly positive trend through 2026, with three-month on three-month growth easing from around 0.8% in the three months to April 2026 to 0.4% by July 2026, according to ONS bulletins. Growth had been supported mainly by the services sector, while production and construction output have been more volatile, at times contracting.
The Bank of England watches this data closely when setting interest rates, alongside inflation and labour market figures. A slowing growth trend, if it continues into the autumn and winter months covered by this November release, could feed into debate about further rate cuts. A pickup in growth, by contrast, would support policymakers who prefer to hold rates steady for longer to keep downward pressure on inflation.
The release also lands after the Bank of England’s early-2027 policy meetings and ahead of any spring fiscal statement, so it forms part of the backdrop against which government borrowing plans and the Bank’s own forecasts will be judged.
What It Means for Your Money
- Mortgages and borrowing: Weaker than expected growth can increase the odds that the Bank of England cuts interest rates, which over time can feed through to cheaper mortgage deals, particularly for those coming off fixed-rate terms. Stronger growth tends to work the other way, keeping borrowing costs higher for longer.
- Savings: Interest rate expectations set by growth and inflation data also affect savings account rates. If markets expect rate cuts, banks may start trimming the interest paid on easy-access and fixed-term savings accounts even before the Bank of England acts.
- Jobs and wages: GDP growth is closely tied to hiring. A sustained slowdown can make employers more cautious about pay rises and recruitment, while stronger growth tends to support job security and wage growth.
- Prices: Growth data feeds into the Bank of England’s view of whether the economy is running hot or cold, which in turn shapes its inflation outlook and therefore the cost of everyday goods and services over time.
- Investments, pensions and currencies: UK shares and the pound can move on growth surprises, since faster growth tends to support company earnings while raising the odds interest rates stay higher for longer. Investors in Europe, the United States and Asia also watch UK growth data as a signal for global demand, particularly for exporters selling into the UK market.
Related events
- Previous release: UK GDP December 2026
- Full UK GDP release schedule and background: UK GDP hub page
- Bank of England interest rate decisions, which weigh growth data alongside inflation when setting monetary policy
Recent UK GDP readings
| Period (three months to) | GDP growth (three-month on three-month) |
|---|---|
| February 2026 | 0.5% |
| March 2026 | 0.6% |
| April 2026 | 0.8% |
| May 2026 | 0.6% |
| June 2026 | 0.4% |
| July 2026 | 0.4% |
Source: ONS GDP monthly estimate bulletins for March, June and July 2026.
Frequently Asked Questions
What time is the November 2026 UK GDP report released?
The ONS publishes the GDP monthly estimate for November 2026 at 7:00am London time on January 15, 2027, which is 2:00am ET.
How should I read the GDP monthly estimate?
Focus on the three-month on three-month growth rate rather than the single-month figure, since the ONS treats it as the more reliable headline measure given how volatile monthly data can be.
How does UK GDP data affect interest rates?
The Bank of England’s Monetary Policy Committee considers GDP growth alongside inflation and wage data when deciding whether to raise, cut or hold interest rates, though it rarely reacts to a single release in isolation.
Where can I find the official GDP release?
The GDP monthly estimate is published on the Office for National Statistics website, ons.gov.uk, under the economy and gross domestic product section.
When is the next UK GDP release after this one?
The ONS publishes GDP monthly estimates roughly every four to six weeks, so the following release, covering December 2026 data, is expected in February 2027, with the exact date confirmed on the ONS release calendar.