Post-Budget sees UK GDP show resilience
Woes cited by Chancellor Hammond yesterday of downward revised growth figures for the next five years didn’t start this morning as expectations were met at 0.4%.
With the impending cloud of Brexit uncertainty shadowing over proceedings, as long as expectations are met in the short-term pessimists will be held at bay. The notion of revising down growth forecasts in Budget statements is not alien to us, and in the current environment analysts treat the notion as familiar ground. The long-term prospects are vital and keeping the right trajectory as Brexit plans are battled out is at the forefront of the Chancellor’s mind and thus at present, economists won’t be weary of growth factoring in at the 0.4% mark for Q3.
Alex Lydall, Head of Dealing at Foenix Partners, comments on UK GDP (Q3) print.