Britain's gross domestic product rose 0.5 percent on average in the three months to March 2019, up from the 0.2 percent increase in the fourth quarter last year and in line with market expectations. The services sector was the largest contributor to quarterly GDP growth, expanding by 0.3 percent. The production and construction sectors also contributed positively, with growths of 1.4 percent and 1 percent, respectively. Within production, manufacturing growth was notably strong at 2.2 percent. For March only, GDP contracted 0.1 percent from a month earlier and rose 1.9 percent year-on-year. Leading Economic Index in the United Kingdom averaged 0.49 percent from 1997 until 2019, reaching an all time high of 1.90 percent in September of 1999 and a record low of -2.10 percent in January of 2009.
Leading Economic Index in the United Kingdom is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in the United Kingdom to stand at 0.30 in 12 months time. In the long-term, the United Kingdom GDP 3-Month Average is projected to trend around 0.60 percent in 2020, according to our econometric models.