UK GDP Preview: Forecasts from six major banks, likely entry into recession in Q3 UnitedKingdom GDP GBPUSD Macroeconomics Banks
The British economy is set to contract by 0.5% inter-quarter in the three months to September. On an annualized basis, the
is likely to have risen by 2.1% in Q3, down by more than double from the 4.4% reported in the previous quarter. The September month GDP is expected to fall by 0.5% vs. -0.3% booked in August. “We expect UK GDP growth for Q3 will be in negative territory , marking an official start of the recession.”“The cost-of-living crisis coupled with the Queen's passing likely weighed sharply on UK GDP in September. We think the services sector will be the hardest hit and forecast a 0.
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