UK GDP just came in weaker than expected in Q3
REUTERS/Eddie Keogh
Analysts were expecting a 0.6% increase from Q2, down from 0.7% previous. Some had even revised their estimates down as various economic data points came out in October - the UK's services PMI, for example, showed its slowest expansion in two and a half years in September.
On the other hand, retail sales popped in September, surging upwards by 6.5% year-on-year, a 1.9% increase from August alone.
Some analysts, like Samuel Tombs at Pantheon Macroeconomics, have expressed scepticism about the UK economy's ability to keep growing at its current pace.
The recovery is undoubtedly weighted towards consumption, and there's a serious question over whether that can continue to produce decent growth for years to come.
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market