Latest GDP tracker
UK Economy to grow again in 2020 Q1
- Latest economic data confirms that the UK economy posted zero growth in the fourth quarter of 2019, consistent with annual growth of 1.4 per cent in 2019. We expect a service sector-driven growth of 0.2 per cent in the first quarter of 2020, marginally revised from our forecast last month (figure 1).
- Data published this morning by the ONS suggest that the UK economy grew by 0.0 per cent in the three months to December, consistent with what we had forecast last month.
- Output increased by 0.3 per cent in December itself, largely reflecting growth in the services sector.
- Recent surveys show that all major sectors recorded an improvement in performance in January, primarily due to receding political uncertainty.
Senor Economist, Macroeconomic Modelling and Forecasting