UK economy set to contract after strong start to summer, say experts
Economists expect a 0.3% drop as services weaken and manufacturing flatlines, with rising inflation adding pressure on businesses and consumers.
7 Articles
7 Articles
Economy set to shrink ahead of Budget in ‘difficult’ outlook
The UK economy is expected to have shrunk in August, despite hopes that the stronger-than-expected growth seen in June and July would continue. The latest gross domestic product (GDP) data, which will be released on Thursday, is expected to show a contraction of 0.1 per cent in August, according to City economists polled by Bloomberg. [...]
UK economy set to contract in August after summer surge
The Office for National Statistics is set to reveal on Thursday, 15 October, that the UK economy shrank in August, ending a brief summer surge. Economists say the contraction reflects a correction after the economy grew faster than expected in June and July. June saw GDP rise by 0.3 per cent, buoyed by hospitality and leisure firms that benefited from football fever and an unusually long spell of hot weather. July’s performance surprised forecas…
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