Income and Output

The subjects on this page are various measures of output and income. We explain each of the most commonly-used concepts, provide data on them for the UK and for some other countries, and provide commentaries on each topic.

Real and Nominal GDP

Gross Domestic Product (GDP) is a measure of a nation’s production of goods and services over a given period of time, and it is often used as an indicator of economic performance and an economy's standard of living. This page explains the difference between nominal and real GDP. It also explains why GDP per capita is the preferred measure for standard of living comparisons.
Read More

Household Income

A more obvious way to monitor a nation's standard of living is by measuring the disposable incomes of households. This page explains real household disposable income and median household income. The latter is a particularly important measure of the 'typical' household's standard of living.
Read More

GDP Across Countries

Different countries produce different goods and services; and the prices of these goods and services are often in different currencies. This makes comparisons of GDPs across countries difficult. On this page we show how such comparisons can be made and make such comparisons for the UK and certain other countries.
Read More

Data

Sources
1. UK Annual (1948-) and seasonally-adjusted Quarterly (1955q1-) Real GDP: Gross Domestic Product, £m base period 2011. Source: ONS, series code ABMI.

2. UK Annual (1948-) and seasonally-adjusted Quarterly (1955q1-) Nominal GDP: Gross Domestic at current market prices, £m. Source: ONS series code YBHA.

3.UK Annual (1955-) and seasonally-adjusted Quarterly (1955q1-) Real GDP per capita: Gross Domestic Product per capita, £, base period 2011. Source ONS, series code IHXW.

4. UK Annual (1977-) Real Median Household Equivilised Disposable Income (£ per year, 2014/15 prices) Income figures have been deflated to 2014/15 prices using an implied deflator for the household sector. Years are calendar years until 1993 and financial years from 1994/95.
Source: Household disposable income and inequality.

5. UK Annual (1955-) and seasonally-adjusted Quarterly (1955q1-) Real Household Disposable Income per Capita: Real households' disposable income per capita, base period 2011. Source: ONS, series code IHXZ.

6. Selected countries’ seasonally-adjusted Quarterly (1947q1-) Real GDP, Volume index, 2015=100. Source OECD, series code VIXOBSA.

Data series
Quarterly data on UK GDP and Household Income:
Variables: UK seasonally-adjusted Real, Nominal and Real per capita GDP; UK seasonally-adjusted Households’ Real Disposable Income per capita

Annual data on UK GDP and Household Income.
Variables: UK Real, Nominal and Real per capita GDP; UK Real Median Household Income.

Quarterly Data on Selected Countries Real GDP, Index Values, 2015=100
Variables: Selected countries’ seasonally-adjusted Index of Real GDP

Annual Data on Selected Countries Real GDP per capita, constant prices, constant PPS, OECD Base Year, US$ 2005.

Download data
All Income and Output data are available in Excel xlsx format:
Income_Output_Data.xlsx [137KB]