Survey: U.K. Growth, Inflation Forecasts Continue to Fallby
2016 GDP estimates lowered to 1.9% versus 2% previously
2016 CPI estimates lowered to 0.7% versus 0.8% previously
The following summary includes consensus forecasts for the U.K. economic and money markets collected from April 8 to April 14. Fifty-two economists were included in the survey.
- 2017 GDP forecasts maintained at 2.2 percent, 2018 lowered to 2.1 percent versus 2.2 percent previously
- 2016 current account forecast lowered to minus 4.4 percent from minus 4.2 percent previously
- Inflation expected to average 0.7 percent this year, 1.7 percent next year, and 1.9 percent in 2018
- Economists continue to see a Bank of England rate increase in 1Q 2017
- Majority of economists expect that the U.K. economy would need further support from the Bank of England in the event of Brexit, according to a separate survey.
|Q1 2016||Q2 2016||Q3 2016||Avg. 2016||Avg. 2017|
|Current Acct. % GDP||-4.9%||-4.4%||-4.2%||-4.4%||-4.0%|
|Budget as a % GDP||n/a||n/a||n/a||-3.1%||-2.2%|
Note: For all economic forecasts, see ECFC.
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