Current Account in United Kingdom
United Kingdom - Current AccountThe economy likely recovered some lost ground in Q3 following Q2’s record contraction. GDP rose solidly in July and August, while retail sales were robust throughout the quarter. However, PMI data suggests the recovery lost momentum in September and early in Q4, due to the snap-back of restrictions at home and abroad. In response to tougher domestic Covid-19 measures, the government has recently ramped up fiscal support, announcing a revamped version of the furlough scheme for firms forced to close temporarily, in addition to a previously announced pledge to pay part of the wages of employees working less than normal hours. However, the support will likely be unable to prevent a sharp rise in unemployment in the coming months. On Brexit, talks with the EU have intensified in recent days. Reaching a trade deal will be vital to minimizing economic damage once the transition period ends on 31 December.
United Kingdom - Current Account Data
|Current Account (% of GDP)||0.0||-0.1||0.0||0.0||0.0|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Current Account Chart
Source: Office for National Statistics (ONS).
United Kingdom Facts
|Bond Yield||0.83||-3.04 %||Jan 01|
|Exchange Rate||1.33||-0.35 %||Jan 01|
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May 12, 2021
Industrial output increased 1.8% month-on-month in seasonally-adjusted terms in March (February: +1.0% mom).
May 12, 2021
GDP dropped 1.5% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, contrasting the 1.3% expansion seen in the fourth quarter of last year.
United Kingdom: BoE keeps rates and total stock of asset purchases unchanged in May, but reduces pace of bond buying
May 6, 2021
At its meeting ending on 5 May, the Bank of England (BoE) maintained the bank rate at the record low of 0.10%, where it has been since March 2020.
April 30, 2021
According to the Nationwide Building Society, house prices in the United Kingdom rose 2.1% month-on-month in April, contrasting March’s 0.3% contraction.
April 23, 2021
Consumer confidence came in at minus 15.0 in April, up from March's minus 16.0.