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June 2020 UK Economic Outlook

June 2020 UK Economic Outlook

June 2020 UK Economic Outlook

In KPMG's latest UK Economic Outlook report they examine the severity of the recession and how the pandemic, and the measures taken to contain it, are likely to impact both sectors and regions in the UK over the next two years.

While output is slowly picking up, as the lockdown eases, there is still significant uncertainty about the medium-term outlook, as well as how the pandemic will change the world we once knew more permanently.

In the report, outlined are four possible scenarios for the pandemic and how they will translate into the outlook for the UK economy. Timing of a vaccine, or effective treatments for COVID-19, could see GDP in 2021 vary from just under 1% to just under 5.5%.

Read the UK Economic Outlook June 2020 report.

GDP
1.4%
2019
-7.2%
2020
2.8%
2021
Inflation vs interest rate (end-of-year)
Cloud
1.8%
0.75%
2019
1%
0.10%
2020
0.8%
0.10%
2021
Unemployment rate
3.8%
2019
8.6%
2020
11.0%
2021