Chief Economist at KPMG UK, Yael Selfin says the latest GDP data confirms growth momentum in the UK economy has stalled.
Yael Selfin, Chief Economist at KPMG UK, says the latest GDP data confirms growth momentum in the UK economy has stalled:
“The first glimpse of GDP data for this year points to a UK economy hovering well below its growth potential, as we wait for the Brexit fog to dissipate.
“Clarity on the direction of Brexit should lift business confidence and increase investment, but that could take time to materialise, so we expect growth to remain subdued in the short-term.
“While there is evidence that stockpiling in anticipation of Brexit has bolstered growth in some industries, others where uncharacteristically strong for this time of the year, hence we could see revisions to this GDP data later on.”
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