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Macroeconomic outlook report: UK

First quarter of 2019

During the first quarter of 2019, UK GDP accelerated by 0.47 p.p. in its year-over-year rate, to 1.99%. As for the labour market, the unemployment rate fell with respect to 4Q18, registering 3.83%, while the year-over-year growth rate of employment decelerated to 1.09%. The pound sterling appreciated slightly against the dollar and stood at an average exchange rate of 1.30 $/£. Finally, inflation was 1.87%, 0.40 p.p. lower than in the previous quarter.

Macroeconomic overview

  • During the first quarter of 2019, UK GDP accelerated by 0.47 p.p. year-over-year, to 1.99%, after higher growth in domestic demand.
  • In the labour market, the unemployment rate was 3.83%, down 0.17 p.p. compared to the fourth quarter of 2018. The year-over-year growth rate of employment fell by 0.29 p.p. to 1.09%.
  • The sterling pound registered an appreciation against the US dollar of 0.01 dollars per pound, and stood at an average exchange rate of 1.30 $/£.
  • Inflation stood at 1.87 % in the first quarter of 2019, 0.40 p.p. below the rate recorded in the previous quarter, registering a rate lower than the 2% target of the Bank of England.

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

© GMS Management Solutions, S.L., 2019. 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.