United Kingdom GDP October 2019

United Kingdom

United Kingdom: Economy flatlines in October on shrinking construction sector

December 10, 2019

According to monthly GDP data released by the Office for National Statistics (ONS), economic activity was unchanged in October over the previous month in seasonally-adjusted terms (September: -0.1% month-on-month), undershooting market expectations of a small expansion. In the three months to October, the economy also flatlined, down from the 0.3% expansion recorded in July–September. Political uncertainty and mild growth in the Eurozone likely weighed on activity.

October’s sluggish reading was driven by a sharp decline in the construction sector. In contrast, the industrial and service sectors eked out small expansions.

Looking forward, our panelists see the economy remaining subdued over the next few quarters before picking up pace towards the end of 2020, likely on some reduction of Brexit uncertainty.

FocusEconomics panelists expect GDP growth of 1.0% in 2020, which is up 0.1 percentage points from last month’s forecast, and 1.5% in 2021.

Author:, Economist

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United Kingdom GDP Chart

United Kingdom GDP Monthly October 2019

Note: Month-on-month changes of seasonally adjusted GDP in %.
Source: Office for National Statistics (ONS).

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