Commenting on the latest Office of National Statistics GDP data, Barret Kupelian, Chief Economist at PwC, says:
“The UK economy has found its cruising speed, but there are two potential speed bumps on the road ahead. Growth is running at just over 1% compared with a year ago, with services doing much of the heavy lifting and AI-exposed sectors such as information technology and the wider professional services leading the charge.
“The bigger question is what could knock the economy off course. The first risk is home grown: speculation ahead of the October Budget could encourage businesses and households to sit on their hands. The second comes from abroad: a sustained rise in energy prices as the weather turns colder. For now, the economy is moving forward; the question is whether uncertainty or energy costs force it to change gear.”
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