Skip to main content

UK economy grows marginally in September but stagnates in Q3

UK economic activity continues to largely flatline, suggesting that higher borrowing costs have squeezed growth and raised recession risks.

10 November 2023

The UK economy managed to perform better than expected in the third quarter, thanks in part to growth of 0.2% in September, to record 0% growth for the full three months. While this will hardly set the world alight, it is better than the 0.1% contraction expected by most economists. The warmer weather in September underpinned the construction sector but this will likely be reversed into the wetter autumn months. So while avoiding a technical recession this year, the UK is still worryingly close to flirting with one.

Important legal information
The information in this document is given for information purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic environment. No liability shall be accepted for the accuracy and completeness of the information. Past performance is not an indicator for the current or future development.

Related Articles

Q3 Multi-Asset Perspectives: Tightening not frightening

Julian Howard

Tightening not frightening - the case for some profit-taking amid a rally

Julian Howard

Diversification in the AI era

Julian Howard

Multi Asset Views