Chief Economist’s Weekly Briefing – Beleaguered

Although the UK economy has fared relatively well in the first half of the year, several headwinds persist, both for short-term and medium-to-longer-term performance. Foremost amongst the latter is the sustained weakness in productivity. Meanwhile the inflation outlook is uncertain with wages and prices still chasing one another upward. With the final destination for interest rates unknown, the hoped for economic ‘soft-landing’ still can’t be banked on.

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