Population in United Kingdom
United Kingdom - PopulationGDP growth was well above the European average in Q1, as the removal of virtually all Covid-19 restrictions supported private consumption. Moreover, fixed investment accelerated from Q4 due to a large expansion in government investment. However, business investment contracted, while exports fell sharply. Moreover, growth only occurred early in the quarter, as monthly data shows GDP flatlined in February and shrank in March, as the cost-of-living squeeze intensified. Moving to Q2, PMI data for April and May suggests a sharp loss of momentum, in line with record inflation, all-time low consumer sentiment and renewed supply chain difficulties. In May, the government announced a GBP 15 billion cost-of-living package, with measures including a discount on energy bills for all households, and fiscal transfers to low earners. The measures will support activity, but potentially at the cost of generating extra inflation.
United Kingdom - Population Data
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Facts
|Bond Yield||0.83||-3.04 %||Jan 01|
|Exchange Rate||1.33||-0.35 %||Jan 01|
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September 26, 2022
What’s happened: Liz Truss’ government recently unveiled a two-year cap on household energy bills and a six-month cap on bills for businesses.
September 22, 2022
On 22 September, the Bank of England (BoE) increased the bank rate from 1.75% to 2.25%, marking the seventh successive rate hike.
September 14, 2022
Inflation dropped to 9.9% in August from July’s 10.1%.
September 12, 2022
GDP expanded 0.2% in month-on-month seasonally-adjusted terms in July, which contrasted June's 0.6% decrease but undershot market expectations of 0.4% growth.
August 23, 2022
Liz Truss is the favorite to become Prime Minister in September, and promises tax cuts. The cost-of-living crisis is likely to force the next PM into greater fiscal handouts to vulnerable households. Relations with the EU will likely stay tense. What’s happening: The result of the Conservative Party leadership election between former Chancellor Rishi Sunak and Foreign Secretary Liz Truss will be announced on 5 September.