Growth Up ... Sterling Falls ... Trade Deficit Increases ...
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The Saturday Economist"Economic growth rebounds as feel-good World Cup boosts growth", the headline in the Telegraph today. Let's not get too excited. Underlying UK growth in the second quarter was just 1.3% compared to 1.2% in the first. Not much of a rebound really, as we warned in The Saturday Economist last week.
We expect growth of 1.4% this year and a similar level next. The pattern over the last three months remains very much the same. Service sector growth of 1.5%, supported by strong growth in transport, storage and communications. We expect an ongoing, weak performance in production and construction. Check out the update here ... |
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