Current Account in United Kingdom

United Kingdom Current Account | Economic News & Forecasts

United Kingdom - Current Account

The economy shrank at the sharpest pace since the global financial crisis in Q1, weighed on by lower consumption, investment and exports amid social distancing restrictions. The downturn in Q2 will be significantly steeper as the full impact of the national lockdown is felt. In April, retail sales plummeted at a record rate, employment and wages fell, and jobless claims increased roughly 70% to over 2 million. However, the economy now appears to have bottomed out, as both the manufacturing and services PMIs picked up somewhat in May, despite languishing deep in contractionary territory. Moreover, the extension of the wage subsidy scheme through October will prevent a more marked rise in unemployment, while the gradual easing of lockdown measures—non-essential stores are set to reopen in England from 15 June for instance—should support a recovery in domestic economic activity.

United Kingdom - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)0.0  -0.1  0.0  0.0  0.0  

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United Kingdom Current Account Chart

United Kingdom Current Account
Note: Current account balance as % of GDP.
Source: Office for National Statistics (ONS).

United Kingdom Facts

Value Change Date
Bond Yield0.83-3.04 %Jan 01
Exchange Rate1.33-0.35 %Jan 01

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