Source: world bank Nominal/PPP
Summary:
United Kingdom GDP Per Capita expanded from 1960 to 2024, increasing from $73.23 to $3,686.03 .The compound annual growth rate (CAGR) averaged 6.31% over the period. The economy recorded its peak level in 2024 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 21.75%, indicating the largest cyclical decline from peak levels. The country experienced 9 recession episode(s) during the observed period.
United Kingdom Economic Phases (1960 - 2024)
From 1960 to 2024, United Kingdom economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1963–1966) indicating robust economic expansion
- High Growth (1969–1975) indicating robust economic expansion
- High Growth (1977–1980) indicating robust economic expansion
- Contraction (1981–1984) indicating temporary slowdown
- High Growth (1985–1988) indicating robust economic expansion
- Expansion (1991–1992) indicating steady moderate growth
- High Growth (1994–1998) indicating robust economic expansion
- Contraction (2000–2001) indicating temporary slowdown
- High Growth (2002–2007) indicating robust economic expansion
- Expansion (2012–2013) indicating steady moderate growth
- Contraction (2015–2017) indicating temporary slowdown
- Contraction (2019–2020) indicating temporary slowdown
- High Growth (2023–2024) indicating robust economic expansion
The most remarkable growth occurred in 1979 with an increase of 30.698%, while the largest decline was in 2009 at -17.516%.