Does the 1.1% increase in GDP mean the UK is on track for a sustained recovery? Industry figures respond.
Stuart Thomson, chief market economist, Ignis No. This is as good as it gets. Enjoy it while you can. The 1.1% rise in preliminary Q2 was nearly double the consensus estimate of 0.6%, and while it implies the fiscal, foreign exchange and monetary policy multipliers have been higher than expected during the period, sadly it does not imply the UK economy has reached escape velocity. As the governor of the Bank of England suggested, this achievement must be put in context of such stimulus. There is little evidence from the data to suggest the economy could achieve this pace in the ab...
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