Current Account in United Kingdom

United Kingdom Current Account | Economic News & Forecasts

United Kingdom - Current Account

Growth appeared to have been limp in the second quarter, sapped by swirling Brexit uncertainty and as manufacturers destocked following a surge in inventories in Q1. While the economy did expand in May, this only partially offset a sharp contraction in April, which was largely induced by temporary shutdowns at car plants. Moreover, the average quarterly readings for the services and manufacturing PMIs suggest stagnation. The labor market remained a silver lining: In March-May, wage growth was the fastest since 2008, while the unemployment rate stayed at a multi-decade low. However, even here signs of vulnerability emerged, with employment growth falling short of expectations and job vacancies declining. In politics, Boris Johnson is expected to be declared the new Conservative leader—and by extension prime minister—on 23 July. All Brexit outcomes—leaving with a deal, no deal, and no Brexit—remain on the table.

United Kingdom - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-0.1  0.0  0.0  -0.1  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

Bond Yield0.61-3.04 %Jul 31
Exchange Rate1.22-0.35 %Jul 31
Stock Market7,587-0.26 %Jul 31

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