Britain's gross domestic product shrank by 1.7 percent in the three months to January 2021, the first period of contraction since May-July but better than market expectations of a 2.5 percent contraction. In January alone, the GDP fell by 2.9 percent, compared with forecasts of a 4.9 percent slump, as restrictions on activity were reintroduced in response to the COVID pandemic. January’s level remained 9.0 percent below that seen in February 2020 and 4.0 percent below levels seen in October 2020, the initial recovery peak. The services sector contracted by 3.5 percent, led by falls in consumer-facing services industries and education, while output in the production sector fell by 1.5 percent, after manufacturing contracted for the first time since the initial pandemic-driven fall in output in April 2020. Meanwhile, construction output rose 0.9 percent, driven by growth in new work. source: Office for National Statistics
Leading Economic Index in the United Kingdom averaged 0.41 percent from 1997 until 2021, reaching an all time high of 16.10 percent in September of 2020 and a record low of -18.20 percent in June of 2020. This page provides - United Kingdom Monthly GDP- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom GDP 3-Month Average - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
Leading Economic Index in the United Kingdom is expected to be -2.60 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 2.30 in 12 months time. In the long-term, the United Kingdom GDP 3-Month Average is projected to trend around 0.90 percent in 2022 and 0.50 percent in 2023, according to our econometric models.