Nominal GDP for the UK was £2,317bn in 2021, down from £2,112bn in 2020. The UK population was estimated at 67.3m in 2021 according to the IMF, while the United States is the UK’s biggest trading partner.

Variables Surveyed for the United Kingdom

Variables covered in our monthly analysis of the UK include:

  • Gross Domestic Product
  • Household Consumption
  • Gross Fixed Investment
  • Company Trading Profits
  • Manufacturing Production
  • Retail Prices (RPI-X)
  • Consumer Prices (CPI)
  • Output Prices
  • Average Earnings
  • Unemployment Rate
  • Current Account
  • Public Sector Net Cash Requirement
  • Interest rates
  • Monetary Policy Evaluation
  • Pound Currency Forecasts

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 and OECD. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Conensus Forecasts – G-7 and Western Europe, September 2022

Special Surveys

In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for the UK on topics such as:

Main Data Sources for the UK

  • Office for National Statistics: The ONS is recognised as the national statistical institute and publishes statistics on the economy, population and society.
  • Bank of England: The UK's central bank, whose main aim is to promote monetary and financial stability.

Comprehensive Forecasts Coverage

Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.