Rolling coverage of the latest economic and financial news
Emeritus professor Joe Nellis, head of economic research at accountancy and advisory firm MHA, points out that the underlying pace of growth in the UK economy remains weak.
Responding to this morning’s UK GDP report, he says:
The loss of momentum in August reflects the impact of continued inflationary pressures that have negatively impacted consumer confidence and spending.
Businesses also continue to face tough trading conditions resulting from rising employment costs and taxation which have squeezed profitability, particularly among small and medium-sized enterprises, discouraging investment spending and recruitment activity.
Continue reading…Rolling coverage of the latest economic and financial newsEmeritus professor Joe Nellis, head of economic research at accountancy and advisory firm MHA, points out that the underlying pace of growth in the UK economy remains weak.Responding to this morning’s UK GDP report, he says:The loss of momentum in August reflects the impact of continued inflationary pressures that have negatively impacted consumer confidence and spending.Businesses also continue to face tough trading conditions resulting from rising employment costs and taxation which have squeezed profitability, particularly among small and medium-sized enterprises, discouraging investment spending and recruitment activity. Continue reading…
