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KPMG comments on today's GDP figures

KPMG comments on today's GDP figures

Yael Selfin, Chief Economist at KPMG UK comments on today's GDP figures.

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“UK Economy unsteady in the face of Brexit impasse” says Yael Selfin, Chief Economist at KPMG UK:

“Prospects of a prolonged transition will exact a price on the economy and see it growing below its already reduced potential for some time, with falling business investment failing to lift the UK’s dismal productivity performance and long term growth. 

“The erratic monthly GDP data highlights the vulnerable position of the economy, with February figures down after a relatively strong pick up in January.

”The continued uncertainty will take its toll on the UK economy and we expect growth for the next two years to be well below that of most G7 economies, despite the slowing growth momentum elsewhere.”          

 

-ENDS-

 

For media queries, please contact:

Gill Carson  - Senior PR Manager, Corporate Communications KPMG LLP

T: +44 (0) 20 3078 4189

M: +44 (0) 7768 635843

E: gill.carson@kpmg.co.uk

Twitter: @gill_carson

 

About KPMG

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.

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