UK GDP, chained volume measure
UK GDP, chained volume measure stood at £712,545m in Q2 2026, according to Office for National Statistics (ONS). It is one of the indicators in the Quarterly GDP table (Value · Quarterly), with a complete series running from Q1 1955 to Q2 2026. The complete series with an interactive chart, free to download.
This indicator in the Quarterly GDP table
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GDP level and GDP per head | |||||||||||
| GDP, chained volume measure | 712,545 | 709,598 | 705,160 | 704,802 | 704,274 | 703,178 | 699,169 | 696,154 | 694,910 | 690,620 | |
| GDP at market prices, current prices | 787,197 | 780,925 | 769,751 | 765,378 | 758,572 | 750,893 | 739,982 | 732,809 | 717,844 | 705,040 |
Understanding UK GDP, chained volume measure
Total physical volume of final output produced within the United Kingdom is quantified here in chained volume terms, expressed in millions of pounds. By stripping out the effect of price changes across successive periods, this measure isolates actual changes in the quantity of goods and services produced. It represents gross domestic product at market prices, capturing output from all domestic sectors alongside taxes less subsidies on products. Unlike current price series in the same table, which combine volume shifts with inflation, or per-head metrics that adjust for population size, this row tracks the aggregate physical scale of national economic activity.
Figures are seasonally adjusted to remove predictable calendar and weather variations, enabling direct quarter-on-quarter assessments. Initial releases rely on incomplete survey returns and administrative data, meaning early vintages are routinely subject to revision as firmer information becomes available. Periodic rebasing also updates the underlying price weights, altering past growth paths across the entire time series. When tracking short-term momentum, quarter-on-quarter changes identify turning points promptly, whereas year-on-year comparisons smooth out transient quarterly volatility.
Frequently asked questions
- What distinguishes this chained volume measure from current price GDP?
- Chained volume figures remove the distorting effects of price inflation to track changes in physical output, whereas current price figures reflect output valued at prevailing market prices.
- Why are published figures for earlier quarters updated over time?
- First estimates incorporate incomplete survey samples, which are later revised as fuller corporate returns, annual tax records, and updated base-year weights are incorporated.
- Does this series account for changes in the size of the population?
- No, this series quantifies total domestic production across the whole economy, unlike the GDP per head row which divides aggregate volume by the resident population.