The table below presents the one year ahead forecasts for quarterly (annualised) GDP growth and RPI inflation estimated using data up to Q1-2016. The forecasts are an average of the projection for the four quarters of 2016. The forecasts are derived using 15 econometric models.
The aim is to provide a wide ranging statistical outlook for the UK economy that is largely free from conditioning assumptions and judgement.
Read more about the forecast summary and key highlights for 2017.
Key Highlights:
UK RGDP is expected to grow by 1.93% in 2016. However, the forecast variance is 0.54 across models.
UK Inflation is expected to be 1.27% in 2016. However, the forecast variance is 0.42 across models.
In comparison, UK Treasury Independent Consensus Forecasts are 1.9% and 2.2% for UK RGDP and Inflation.