PwC comments on latest GDP data

Sep 10, 2018

John Hawksworth, chief economist at PwC, comments on the latest GDP data:  

"The UK economy continued to pick up momentum, growing by 0.6% in the three months to July. This was the fastest quarterly growth rate since the fourth quarter of 2016 and supports the decision of the Bank of England to raise interest rates in August.

"The hot summer and the World Cup boosted retail spending in June and July, and latest business surveys suggest that positive services sector growth continued in August. But manufacturing output growth has weakened.

"Looking ahead, however, the long hot summer could give way to a stormy autumn as Brexit-related uncertainty leads businesses to defer major investment decisions and subdued real wage growth weighs on consumer spending."

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