The table below presents the one year ahead forecasts for quarterly (annualised) GDP growth and RPI inflation estimated using data up to Q4-2015. 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 on the forecast summary and key highlights for 2017.
UK RGDP is expected to grow by 2.17% in 2016. However, the forecast variance is 0.51 across models.
UK Inflation is expected to be 1.79% in 2016. However, the forecast variance is 0.90 across models.
In comparison, UK Treasury Independent Consensus Forecasts are 2.1% and 2.1% for UK RGDP and Inflation.