UK GDP

UK GDP grew 0.4% month-on-month in August 2021 as the economy began to expand again following a 0.1% decline in July, however some economists warn growth has almost certainly flatlined since then.

UK Economic growth for the second quarter of 2021 was revised higher by the ONS, meaning the economy is closer to where it was pre-pandemic than originally expected.

A slowdown in UK economic growth during the summer has been confirmed by the release of official GDP data for July.

The UK economy grew more than expected in June and although the British Pound failed to show any significant volatility, the GDP data has helped it shore up recent gains.

The UK economy grew 24.6% in the year to May, an impressive headline figure flattered by the economic crash a year earlier but one that nonetheless is softer than the 25.9% the market had been expecting.

Data shows UK households to have saved more money than economists had expected in the first three months of 2021, suggesting the post-lockdown recovery could eclipse existing economic growth forecasts.

The UK economy shrank in the first quarter of 2021 but a strong rebound in March limited the damage and economists are looking forward to a bumper few months of economic growth ahead.

The UK economy expanded by 0.4% in February 2021 says the ONS, helped by a 0.2% expansion of the country's dominant services sector.

Goldman Sachs are forecasting a strong global economic rebound that will also see the UK economy grow faster than current consensus market expectations reflect.

The size of the UK's economy as measured by Gross Domestic Product (GDP) shrank 7.3% in the final quarter of 2020 when compared to the same time a year prior, which is less than the -7.8% the market was expecting and has meant economists will have to raise their growth forecasts for 2021.

Economists at Deutsche Bank have raised their UK growth forecasts for 2021 and say the economy will be at 98% of its pre-pandemic size by year-end, allowing the Bank of England to begin the process of unwinding emergency support.

The UK economy shrank by 2.9% in January, an outcome that was less severe than the -4.9% figure the market was expecting.

The UK economy suffered its sharpest annual decline on record in 2020 the ONS has confirmed, but a pickup in spending to fight the covid-19 health emergency means the country is set to avoid a double-dip recession.

Britain's economic recovery all but petered out in October as a tiered system of localised restrictions came into force, Office for National Statistics (ONS) data showed on Thursday, although economist forecasts suggest an outright contraction looms for the final quarter due to November's national 'lockdown'.

The UK economy has shrunk by a greater amount than the United States and its major peers in the Eurozone, but the deeper decline could be matched by a greater vaccine-fuelled recovery in 2021 according to independent economic research house Capital Economics.

The UK economy kept one foot in a proverbial grave last quarter when a record rebound proved unable to backfill the hole dug by the government in its coronavirus containment efforts, although even that tepid recovery now faces going into reverse due to the current quarter's lockdown. 

UK economic growth forecasts for the UK economy have been downgraded by the Bank of England, while pointing to a more gradual recovery in growth towards pre-Covid levels.

The European Commission has released its latest economic forecasts for the EU, Euro Area and the UK, with projections built on an assumption the EU and UK will fail to strike a post-Brexit trade deal before year-end.

The UK economy grew slower than was expected in August even after being boosted by Chancellor Rishi Sunak’s innovative Eat Out to Help Out scheme, Office for National Statistics (ONS) data showed Friday, leading economists to warn of a bleak winter period ahead in which the recovery risks going into reverse. 

The UK economy contracted by less than was expected in the second-quarter, the Office for National Statistics (ONS) revealed on Wednesday but with the government withdrawing financial support while tightening restrictions on activity, the data offers little consolation to the bruised economy ahead of a likely bleak winter.