Deloitte comments on today's ONS GDP figures
Commenting on today’s ONS GDP figures, Debapratim De, director of economic research at Deloitte, said:
“GDP growth was surprisingly strong in May. The data points to a broad-based pickup, with recent underperformers - the manufacturing and construction sectors - gaining momentum.
“A more established recovery is good news for the new government, reducing uncertainty as it plans its first fiscal event.
“Today’s data is unlikely to move the dial on monetary easing. With the economy picking up steam and price pressures still persistent, the Bank of England will be in no hurry to cut interest rates.”
-ENDS-
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