Domestic Demand in United Kingdom
United Kingdom - Domestic Demand
The economy remains stuck in low gear in the three months to January
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity rose 0.5% in January over the prior month in seasonally-adjusted terms, contrasting December’s 0.4% fall. Despite the strong January showing, the quarter-on-quarter expansion for the November-January period was a mere 0.2%, matching the reading for October-December, and comes amid sluggish momentum in the rest of the EU and elevated Brexit uncertainty.
Looking at a sector-by-sector picture, the November-January reading was underpinned by a solid showing from the service sector, which was partially offset by contractions in the industry and construction sectors.
Over the rest of Q1, growth is likely to stay limp as Brexit uncertainty bites. The Central Bank expects the economy to expand 1.2% in 2019 and 1.5% in 2020. FocusEconomics panelists see GDP expanding 1.4% in 2019 and 1.5% in 2020.
United Kingdom - Domestic Demand Data
|Domestic Demand (annual variation in %)||2.7||3.6||2.4||2.2||1.4|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Facts
|Bond Yield||1.15||-3.04 %||Mar 20|
|Exchange Rate||1.32||-0.35 %||Mar 20|
|Stock Market||7,291||-0.26 %||Mar 20|
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March 22, 2019
On 21 March the EU agreed to delay Brexit until 12 April to give the UK parliament more time to coalesce around a way forward.
March 21, 2019
At its meeting ending on 20 March, the Monetary Policy Committee (MPC) of the Bank of England (BoE) voted unanimously to keep the Bank Rate unchanged at 0.75%.
March 20, 2019
Consumer prices rose 0.5% in February over the previous month, contrasting January’s 0.8% decline.
March 19, 2019
In the November-January period, the unemployment rate reached a fresh multi-decade low of 3.9%, while the employment rate rose to a record high.
March 12, 2019
Industrial production rose 0.6% in January over the prior month according to the Office for National Statistics, contrasting December’s 0.5% decline.