• UK finance minister Hammond: UK's 2019 economic growth forecast cut to 1.2% from 1.6% prior

Market news

13 March 2019

UK finance minister Hammond: UK's 2019 economic growth forecast cut to 1.2% from 1.6% prior

2020 forecast at 1.4% (unchanged)

2021 forecast at 1.6% vs 1.4% prior

2022 forecast at 1.6% vs 1.5% prior

2023 forecast at 1.6% (unchanged)

2018/19 deficit to GDP at 1.1% vs 1.2% prior

Sees real wage growth in every year of the forecast

Has revised up wage growth to 3% or higher in every year

Economy forecast to grow in each of next 5 years

Economy itself is remarkably robust

Last night's vote leaves cloud of uncertainty over economy

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