UK GDP: Growth expected to hit near two-year high – business live
Rolling coverage of the latest UK growth figures for the third quarter of this year
- Introduction: Growth probably accelerated in July-September
- Economists predict UK grew by 0.6%, after strong July
- But….UK expected to be weakest EU country in 2019
The Treasury have tweeted a short (and simple) video clip to explain what GDP means:
New growth stats out today at 9.30am.
But, what is GDP and why does it matter?
Find out in this video pic.twitter.com/XNLXBO1wO1
If today’s third-quarter GDP report is indeed strong, then July can take much of the credit.
A consumer spending surge helped to drive growth at the start of the last quarter, but it is likely to have faded by the end.
The story for the UK economy in Q3 was a strong start which had fizzled out almost completely by the end of the quarter, indeed monthly GDP and the Index of Services for September are seen at just 0.1% m/m after flat readings in August.
Q3 Business Investment is projected to rebound modestly to 0.2% q/q, which would be an improvement on Q2’s -0.7% q/q, but is obviously heavily encumbered by Brexit related uncertainties
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Author: Graeme Wearden