Britain's gross domestic product tumbled 24.0 percent from a year earlier in May 2020, easing from a record 25.3 percent contraction in April and compared to market expectations of a 20.4 percent decline. Services output fell 23.6 percent (vs -24.2 percent in April), production declined 20.0 percent (vs -23.8 percent in April) and construction dropped 39.7 percent (vs -44.2 percent in April). On a monthly basis, the economy grew 1.8 percent, rebounding from a record 20.3 percent plunge but missing forecasts of a 5.5 percent surge.
Economic Activity Index in the United Kingdom averaged 1.83 percent from 1998 until 2020, reaching an all time high of 5.80 percent in April of 2000 and a record low of -25.30 percent in April of 2020. This page provides - United Kingdom GDP YoY- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom GDP YoY - values, historical data and charts - was last updated on July of 2020. source: Office for National Statistics
Economic Activity Index in the United Kingdom is expected to be -15.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Economic Activity Index in the United Kingdom to stand at 17.50 in 12 months time. In the long-term, the United Kingdom GDP YoY is projected to trend around 3.20 percent in 2021 and 2.00 percent in 2022, according to our econometric models.