Wood Mackenzie forecast the UK to grow 2.6% yoy in 2015. Low inflation will boost real wage growth and unemployment should continue to fall towards pre-crisis levels. External factors will also support growth. First, lower oil prices are expected to boost net trade and consumption. Second, spillovers from the ECB's QE programme could lead to lower interest rates, and boost asset prices. However, lower oil prices also have negative impacts on the UK - deterring capex in resource extraction.
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United Kingdom economic outlook Q1 2015 PDF - 316.34 KB 5 Pages, 1 Tables, 6 Figures
Country economic data United Kingdom Q1 2015.xls XLS - 138.50 KB
This Economic Outlook presents our macroeconomic outlook to 2035 at the country level.
Specifically we assess the structure of the economy and present the GDP and industrial production outlook.
The long-term outlook is underpinned by a set of GDP models which take account of long-term structural drivers of GDP including demographics, investment and productivity growth.
Finally, we highlight the key risks facing our outlook, both upside and downside.
Wood Mackenzie's macroeconomic forecasts underpin all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.
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Commodity market report | Mar 2015
United Kingdom economic outlook Q1 2015
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