UK gross fixed capital formation
UK gross fixed capital formation stood at £144,517m 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross fixed capital formation, total5 | 144,517 | 143,172 | 140,695 | 141,171 | 140,106 | 139,557 | 135,919 | 136,163 | 131,548 | 131,413 | |
| Gross fixed capital formation, general government | 25,353 | 26,105 | 26,443 | 24,095 | 25,299 | 23,572 | 23,237 | 23,308 | 21,843 | 23,295 | |
| Capital formation in dwellings | 28,250 | 27,616 | 27,124 | 28,268 | 28,030 | 27,470 | 28,381 | 28,193 | 27,211 | 27,588 |
Understanding UK gross fixed capital formation
Aggregate net additions to fixed tangible and intangible assets across the United Kingdom economy are quantified in this series in £m. It measures acquisitions less disposals of assets that are used repeatedly or continuously in processes of production for more than twelve months. As the headline investment aggregate of GDP, it brings together business investment, government infrastructure outlays, and residential dwellings, while explicitly excluding temporary working inventories and non-produced assets such as land.
Data are presented on a seasonally adjusted basis. Gross fixed capital formation is notoriously volatile from quarter to quarter due to lumpy purchases of major assets such as transport fleets or specialised engineering plant. Period-on-period fluctuations should therefore be interpreted with caution until confirmed across multiple quarters. Subsequent revisions are frequent as annual corporate financial records and audited central and local government capital accounts replace preliminary survey indicators.
Frequently asked questions
- What does the term 'gross' signify in gross fixed capital formation?
- It means the metric measures total investment spending before deducting capital consumption, which represents the depreciation and wear of existing assets.
- Are land purchases counted in this total?
- No, land is a non-produced asset, though the transfer costs and legal fees associated with land transactions are included as capital formation.
- How does this series relate to total business investment?
- Business investment is a major subcomponent of this total, but this series also includes government capital spending and private housing outlays.