Historical Year Data · 1973
UK Real GDP in 1973
UK Real GDP opened 1973 at 267,015 and closed at 263,989, a -1.13% move for the year. The high of 267,521 was reached on April 1, and the low of 263,989 on October 1.
Open
267,015
1973-01
Close
263,989
4 data points
High
267,521
Apr 1
Low
263,989
Oct 1
Full Year Change
-1.13%
1972 Change
+4.51%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 267,015 | 267,015 | 267,015 | 267,015 | +0.00% |
| Apr | 267,521 | 267,521 | 267,521 | 267,521 | +0.00% |
| Jul | 265,025 | 265,025 | 265,025 | 265,025 | +0.00% |
| Oct | 263,989 | 263,989 | 263,989 | 263,989 | +0.00% |
Events During 1973
1971 Nixon Shock (End of Gold Standard)
Stagflation
August 15, 1971
On August 15, 1971, President Nixon announced the United States would no longer convert dollars to gold at $35/oz, ending the Bretton Woods system and ushering in the modern fiat era.
1973 OPEC Oil Embargo
Stagflation
October 1973 – March 1974
OPEC quadrupled oil prices and embargoed shipments to the United States in response to US support for Israel in the Yom Kippur War. The shock launched a decade of stagflation.
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