Rolling coverage of the latest economic and financial news, including new UK growth figures due at 7am
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.
Rishi Sunak’s claim that “the economy has turned a corner” is about to be tested.
After a thumping end to Q1-24, we expect the UK economy to start out flat as we enter Q2-24. UK GDP, we think, will likely stall in April, weighed down by falls in both the services and manufacturing sectors.
Risks are skewed to a slightly stronger print based on our nowcasts.
Growth momentum remains robust in the UK, but monthly numbers tend to be volatile and impacted by factors such as weather. In April, the UK saw one and a half times more rain than usual which is likely to have dampened activity in construction and services.
Continue reading…Rolling coverage of the latest economic and financial news, including new UK growth figures due at 7amGood morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.Rishi Sunak’s claim that “the economy has turned a corner” is about to be tested.After a thumping end to Q1-24, we expect the UK economy to start out flat as we enter Q2-24. UK GDP, we think, will likely stall in April, weighed down by falls in both the services and manufacturing sectors.Risks are skewed to a slightly stronger print based on our nowcasts.Growth momentum remains robust in the UK, but monthly numbers tend to be volatile and impacted by factors such as weather. In April, the UK saw one and a half times more rain than usual which is likely to have dampened activity in construction and services. Continue reading…