Trade Balance in United Kingdom
United Kingdom - Trade Balance (billions of British pounds)The economy gained steam in Q1 as government consumption growth edged up and fixed investment rebounded, although this was likely influenced by stockpiling in preparation for a possible no-deal Brexit. More encouragingly, private consumption picked up pace, supported by solid wage gains and a multi-decade low unemployment rate. On the other hand, the external sector weakened on a surge in imports—again tied to stockpiling. Turning to Q2, growth is likely ebbing as the stockbuilding effect unwinds. In April, the manufacturing PMI declined, while the services PMI was weak despite crawling back into expansionary territory. However, retail sales in April were better than expected. On the political front, Theresa May announced she would resign as Conservative leader on 7 June, paving the way for a new Conservative prime minister. This increases the likelihood of both a no-deal Brexit and a further extension to Article 50.
United Kingdom - Trade Balance (GBP bn) Data
|Trade Balance (GBP billion)||-119.8||-123.1||-118.6||-135.5||-135.6|
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Trade Balance (GBP bn) Chart
Source: Office for National Statistics (ONS).
United Kingdom Facts
|Bond Yield||0.84||-3.04 %||Jun 13|
|Exchange Rate||1.27||-0.35 %||Jun 13|
|Stock Market||7,369||-0.26 %||Jun 13|
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June 11, 2019
In the February-April period, the unemployment rate remained at a multi-decade low of 3.8%, while the employment rate was the joint-highest on record.
June 10, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity fell 0.4% in April over the prior month in seasonally-adjusted terms, down from March’s 0.1% contraction.
June 10, 2019
Industrial production fell 2.7% in April over the prior month according to the Office for National Statistics, contrasting March’s 0.7% increase.
June 5, 2019
The IHS Markit/CIPS UK services Purchasing Managers’ Index (PMI) rose to 51.0 in May from 50.4 in April.
May 31, 2019
The GfK consumer confidence indicator registered minus 10 points in May, up from April’s minus 13.