Still, with GDP shrinking by -0.2% in the three months to November, recession risks are looming large.
12 January 2024
The UK economy managed to technically avoid a recession with November’s Gross Domestic Product (GDP) figure showing better-than-expected growth, rising 0.3% over the month, the strongest growth in five months - but this only counteracts the -0.3% drop seen in October.
December’s GDP print (to be announced on 15 February) will all but confirm whether the UK entered a recession in the fourth quarter or not given that Q3 was contractionary. But a flatlining economy - at best - is hardly something that will embolden Prime Minister Sunak in this crucial election year.
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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.