UK GDP: Economy yet to return to work
Jonathan Moyes, head of investment research at Wealth Club said: “The government and the chancellor spent much of their time sapping what little confidence the UK economy had left in October. So it is not unsurprising to see the economy not only stagnate, but contract in the month before the budget. Confidence is a key ingredient for a thriving economy, it is a shame to see it given away so freely to mask political choices. For comparison, US GDP growth in Q3 is expected to come in at a blistering 3.8%. The UK is firmly in the global slow lane.
Looking ahead, a well known saying springs to mind, “to understand a country’s future, look at its youth”, well, within the UK it’s young are leaving by their hundreds of thousands.”