Skip to main content

Macroeconomic outlook report: UK

Third quarter of 2019

In the third quarter of 2019, UK GDP decelerated its year-on-year growth rate to 1.24%. As for the labor market, the unemployment rate decreased with respect to 2Q19, registering 3.80%, while the year-on-year growth rate of employment also decelerated to 0.99%. The pound sterling depreciated slightly against the dollar and stood at an average exchange rate of 1.23 $/£. Finally, inflation stood at 1.83%, 0.20 percentage points lower than in the previous quarter.

Macroeconomic overview

  • During the third quarter of 2019, British GDP slowed by 0.10 percentage points year-on-year in comparison with the previous quarter, to 1.24%, after a decrease in the domestic demand.
  • In the labour market, the unemployment rate was 3.80%, 0.03 p.p. lower than in the second quarter of 2019. The year-on-year growth rate of employment decelerated by 0.32 percentage points to 0.99%.
  • The pound sterling depreciated slightly against the US dollar by $0.06 per pound and stood at an average exchange rate of 1.23 $/£ during the third quarter of the year.
  • Inflation stood at 1.83% in the third quarter of 2019, 0.20 p.p. below the rate recorded in the previous quarter, and below the Bank of England's 2% target.

For more information, click here to access the executive document in pdf.

© GMS Management Solutions, S.L., 2020. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.