LONDON - Britain’s economy picked up more than expected in July, data showed on Monday, dampening fears that it will succumb to its first recession since the financial crisis as the Brexit crisis escalates.
“While the figures are far from stellar, after a contraction in the second quarter the chances that we see a negative GDP print in the third have now dropped significantly, meaning that a technical recession will likely be avoided,” said David Cheetham, chief market analyst at online broker XTB. The ONS said gross domestic product in the three months to July was flat compared with the previous three-month period. A Reuters poll of economists had pointed to a 0.1% contraction.Last month, the Bank of England forecast that economic output would grow 0.3% in the third quarter, although its forecast for zero growth in the second quarter proved to be too optimistic.
Talking too early, wait till they leave.
Coz everyone’s stockpiling shit
BorisJohnson
Yes Brexit planning money!
georgegalloway Brexit strength 🏋️
Watch Sky News now they are pouring cold water on the figures, wheres Ed.
What a surprise! Economists predict the end of the world & instead economy grows nicely. Proves Brexit will be a great success!
« Dampening » sounds like there’s a feeling of disappointment that threats of a recession are receding!
Thanks for your information.
georgegalloway The Project Fear “Experts” are proved wrong yet again!
Just ppl buying up the stuff they know will be more expensive or unavailable after Brexit.
This makes the thousandth time in a row experts have been wrong.