The UK economy shrank by 2.0 percent in the three months to March 2020, after showing no growth in the previous period and compared to market consensus of a 2.6 percent contraction. That was the steepest decline in the GDP since the fourth quarter of 2008 due to the effects of the coronavirus pandemic and the government measures taken to reduce transmission of the virus, including the introduction of restrictions in movement across the UK from March 23rd. The services sector fell by 1.9 percent, production by 2.1 percent and construction by 2.6 percent. On a monthly basis, the economy contracted 5.8 percent, the biggest monthly fall since the series began in 1997.
Leading Economic Index in the United Kingdom averaged 0.50 percent from 1997 until 2020, reaching an all time high of 2 percent in September of 1999 and a record low of -2 percent in November of 2008. 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 June of 2020. source: Office for National Statistics
Leading Economic Index in the United Kingdom is expected to be -26.00 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 1.00 in 12 months time. In the long-term, the United Kingdom GDP 3-Month Average is projected to trend around 0.70 percent in 2021 and 0.50 percent in 2022, according to our econometric models.