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Deloitte comments on today's ONS GDP figures

10 November 2023

Commenting on today’s ONS GDP figures, Ian Stewart, chief economist at Deloitte, said:

“The economy has lost momentum since the first half of the year. With higher interest rates feeding through to mortgage holders and with challenges in the labour market, activity is likely to flatline through to the middle of next year. Lower inflation should pave the way for a gradual recovery to start around the middle of next year.”