Yael Selfin, Chief Economist at KPMG UK, comments on today’s GDP figures:
“Figures released today show the UK economy regained momentum in November, with GDP growing by 0.2% after a more muted performance in autumn. Services remain the main driver of growth, with strong growth recorded by the wholesale and retail sector as well as hotel and restaurants and information and communication services.
“Manufacturing output contracted for the fifth consecutive month in November, although goods exports recovered, while construction regained momentum and grew by 0.6% in November after flat growth in October.
“These figures contrast with the overall picture we have seen on the high-street, and with Brexit uncertainties likely to continue to weigh on households’ spending and business investment, we expect a weak first quarter of 2019.”
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About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.