Nominal GDP totalled £2112 billion in the UK economy in 2020, after being hit by the massive pandemic-induced contraction in growth. The UK population was estimated at 67.9m in 2020 according to the IMF, while the United States is the UK’s biggest trade partner (Office for National Statistics).
Variables Surveyed for the United Kingdom
Variables covered in our monthly analysis of the UK include:
Consensus Forecasts for the UK
Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. In the hard copy and pdf version of the publication, we also show selected “comparison forecasters” including the Office for Budget Responsibility (OBR), IMF, OECD, and European Commission. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of March 2021.