The UK economy grew 0.3 percent on average in the three months to August of 2019, following an upwardly revised 0.1 percent gain and above market expectations of a 0.1 percent increase. The main contributor to growth was the services sector, which expended by 0.4 percent. Meanwhile, the production sector fell by 0.4 percent, while construction output grew by 0.1 percent. Year-on-year, the economy expanded 1.1 percent, following an upwardly revised 1.3 percent rise in July and against market expectations of a 0.9 percent gain. 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 0.40 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 0.40 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.