One step back for UK economy but fears of a recession are still premature.
“One step back for UK economy but fears of a recession are still premature” says Yael Selfin, Chief Economist at KPMG UK.
“Despite the contraction in GDP in August, the risk of the UK economy falling into a technical recession is still remote, due to strong growth in July. Also a potential new round of stockpiling will likely help boost GDP growth in September and October.
“The latest figures are still a cause for concern however, especially as most of the fall comes from the manufacturing sector, which is particularly vulnerable to an adverse Brexit outcome.”
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About KPMG in the UK
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