최신자료
Hope is on the Horizon as New Government Takes Office
Monthly GDP grew by 0.4 per cent in May, following flatlined growth in April. This monthly figure was supported by growth from all main sectors. GDP grew by 0.9 per cent in the three months to May - the strongest three-months growth since January 2022. This growth was better-than-expected compared with our forecast published last month and mainly driven by Services.
Consistent with the observed PMIs across all sectors, we now forecast that GDP will continue its momentum for the remaining of the 2nd quarter against the backdrop of a muted start to Q2 growth. While S&P Global/CIPS UK Composite PMI fell marginally to 51.7 in June, the key theme driving modest activity was due to companies opting for a “wait-and-see” approach around the general election. As the dust from the post-general election settles coupled with the momentum of the first quarter, we now forecast GDP to grow by 0.6 per cent in the second quarter of 2024 driven mainly by Services.
To tackle deep-seated issues that have marred the economy will require deliberate and strategic choices. As shown in figure 1 below, the economy flatlined following the initial stages of the post-pandemic recovery. Fostering robust and sustained economic growth, while not compromising living standards, should remain a top priority for the new government. Notably, the plan to set up a National Wealth Fund with the aim to unlock investment is a step in the right direction given the UK’s private investment levels have been lagging its G7 peers. In that light, we look forward to more policy priorities due to be announced during The King’s Speech.
Consistent with the observed PMIs across all sectors, we now forecast that GDP will continue its momentum for the remaining of the 2nd quarter against the backdrop of a muted start to Q2 growth. While S&P Global/CIPS UK Composite PMI fell marginally to 51.7 in June, the key theme driving modest activity was due to companies opting for a “wait-and-see” approach around the general election. As the dust from the post-general election settles coupled with the momentum of the first quarter, we now forecast GDP to grow by 0.6 per cent in the second quarter of 2024 driven mainly by Services.
To tackle deep-seated issues that have marred the economy will require deliberate and strategic choices. As shown in figure 1 below, the economy flatlined following the initial stages of the post-pandemic recovery. Fostering robust and sustained economic growth, while not compromising living standards, should remain a top priority for the new government. Notably, the plan to set up a National Wealth Fund with the aim to unlock investment is a step in the right direction given the UK’s private investment levels have been lagging its G7 peers. In that light, we look forward to more policy priorities due to be announced during The King’s Speech.
많이 본 자료
![[팀튜링의 디지털 오디세이] 제1화 UAM의 미래](/userdata/main/incContent/sideLink/19/aaaGHKBjsPPI5g31szc-y20240605110816byhta.png)
![[2024.04] 물가상승](/userdata/main/incContent/sideLink/20/aaaGHKBjsPPI5g31szc-y20240605111046bpogp.jpg)
