GDP per capita in United Kingdom
United Kingdom - GDP per capita (U.S. Dollars)
Economic activity growth ebbs in August
GDP expanded 2.1% on a calendar-adjusted month-on-month basis in August (July: +6.4% mom), amid softer growth in industrial production, construction and services. The slowdown was to be expected given several months of rapid recovery, and GDP is now 9.2% below its pre-Covid-19 level.
On a rolling quarterly basis, GDP grew 8.0% in June-August, rebounding notably from May-July’s 6.8% fall and marking the best result on record.
Looking ahead, the economy is set to slow sharply heading into Q4 following the announcement of new lockdown measures in early October, which will hit the hospitality sector in particular. The sagging labor market and Brexit uncertainty will further weigh on momentum.
According to economists at Berenberg:
“[A] robust Q3 gives way to serious virus risks […] Amid mounting restrictions, and in line with our latest revisions to the Eurozone outlook, we downgrade our Q4 call to 2.0% qoq from 2.5% previously.”
FocusEconomics panelists expect the economy to contract 9.9% in 2020, which is down 0.5 percentage points from last month’s forecast, and to expand 6.5% in 2021, which is up 0.2 percentage points from last month’s forecast.
United Kingdom - GDP per capita (USD) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| GDP per capita (USD) | 45,001 | 41,199 | 40,432 | 43,092 | 42,294 |
United Kingdom Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.83 | -3.04 % | Jan 01 |
| Exchange Rate | 1.33 | -0.35 % | Jan 01 |
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Economic News
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United Kingdom: Inflation increases in September
October 21, 2020
Consumer prices rose a seasonally-adjusted 0.41% in September over the previous month, contrasting the 0.42% fall logged in August.
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United Kingdom: Labor market remains soft at end-Q3, worse to come in fourth quarter
October 13, 2020
According to the ONS, in June–August the unemployment rate ticked up to 4.5%—an over three-year high—while redundancies rose at a record pace in quarter-on-quarter terms.
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United Kingdom: Industrial output growth wanes in August
October 9, 2020
Industrial production increased 0.3% on a calendar-adjusted month-on-month basis in August (July: +5.2% mom).
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United Kingdom: Economic activity growth ebbs in August
October 9, 2020
GDP expanded 2.1% on a calendar-adjusted month-on-month basis in August (July: +6.4% mom), amid softer growth in industrial production, construction and services.
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United Kingdom: House prices continue to increase in September
September 30, 2020
According to the Nationwide Building Society (NBS), house prices in the United Kingdom rose 0.9% month-on-month in September, down from August’s 2.0% rise.
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