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Deloitte comments on today's ONS GDP figures

12 April 2024

Commenting on today’s ONS GDP figures, Debapratim De, senior economist at Deloitte, said:

“Today's GDP release suggests that the technical recession the UK had slipped into last year is highly likely to have ended. On current monthly growth trend, economic activity will have posted a good recovery in the first quarter.

 “This is consistent with improvements in business sentiment reported in the Deloitte CFO Survey* earlier this week, and purchasing managers indices. With further falls in inflation and the first interest rate cut expected over the summer months, we see the recovery picking up steam in the second half of this year.”



*Please see the press release for the Q1 CFO Survey here.