Deloitte comments on today's GDP figures
Commenting on today’s ONS GDP figures, Debapratim De, director of economic research at Deloitte, said:
“Today’s GDP data release suggests that UK growth had weakened significantly before the autumn budget. Waning business and consumer confidence seem to have affected output, after what was a surprisingly strong start to the year.
“Growth is expected to remain sluggish over the winter months, before the budgetary boost to public spending shows up in the GDP figures. Despite the downbeat assessment, a rate cut by the Bank of England seems unlikely this month as policymakers remain cautious about the inflationary impulse from the budget and the wider geopolitical environment."
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