Those waiting for the post-vote shoe to drop will be disappointed. On most measures either the initial ‘Brexit’ shock has been reversed or it never happened. So much depends on jobs – their availability and pay. It’s early days still.
If you’re walking in the dark it’s useful to know where you’re starting from. With Q2 GDP growth confirmed at 0.6%, supported by decent data for June, we can be confident that the UK economy started the summer in decent shape.
Economic data will be closely scrutinised for evidence of the impact of the UK’s referendum result to leave the European Union. But in the immediate aftermath of the vote the political changes were already occurring. Continue reading
Some parts of the UK economy are in overdrive, powered on by a rising population that keeps demand growing and the supply of workers flowing. But the strength that’s seen in household spending isn’t matched by exports or investment. The UK’s sectors and regions are running in different gears.