August Monthly Briefing | EEF

August Monthly Briefing

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Our monthly economic briefing is back.  In a round up of key data releases over the past month we'll look at GDP estimates, labour market statistics and confidence indicators.

 

Data round up 

  • The UK economy expanded by 0.6 per cent in the second quarter of this year, up from 0.4 per cent in Q1. Manufacturing did particularly well, contributed around one-third of total growth.
  • The unemployment rate reached a record low of 4.9 per cent in the three months to May. The Claimant Count, however, increased slightly in June, suggesting probably a loss of momentum pre-referendum. 
  • Post-Brexit confidence indicators dropped sharply. Consumers' confidence was the most affected, recording the biggest fall since 1990. Manufacturers' confidence sloped downward, yet to a lesser extent than in the services sector.

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Download the full briefing here 

 

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