Private Consumption in United Kingdom
The United Kingdom's economy recorded an average growth rate of 1.6% in private consumption over the decade to 2022, slightly below the 1.7% Major Economies regional average. In 2022, private consumption growth was 5.2%. For more private consumption information, visit our dedicated page.
United Kingdom Private consumption Chart
Note: This chart displays Private Consumption (annual variation in %) for United Kingdom from 2014 to 2023.
Source: Macrobond.
United Kingdom Private consumption Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Private Consumption (ann. var. %) | 1.1 | -13.1 | 7.2 | 7.4 | 0.5 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects British private consumption projections for the next ten years from a panel of 26 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for British private consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our British private consumption projections.
Want to get access to the full dataset of British private consumption forecasts? Send an email to info@focus-economics.com.