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UK growth slows again

Friday, October 09, 2020

The pace of the growth bounce back in the UK slowed again in August, as measured through the monthly GDP print released on 9 October. August growth of 2.1% compares to the previous month growth of 6.4%. It is to be expected that growth would slow marginally, but not by this much. The UK had the largest fall in GDP in the second quarter among its European peers and it feels now it is having a slower recovery in what should have been a better showing as social restrictions were probably at their lowest in August. As local lockdowns continue to be enforced, this will have to weigh on any further growth so the outlook no doubt is for continued stimulus efforts from the Bank of England.
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