August Monthly Briefing

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Data Round Up

  • GDP growth remained subdued in the second quarter. The UK economy expanded at a quarterly growth rate of 0.3% in the second quarter of 2017, a touch higher than the first quarter’s lacklustre growth of 0.2%.
  • Manufacturing output contracted after two quarters of solid gains.
  • The UK manufacturing PMI ticked up to 55.1 in July up from 54.3 in June.
  • The Bank of England’s Monetary Policy Committee dilemma remained unresolved. Monetary policy was unchanged, with two dissenting votes to increase interest rates from their currently record low level of 0.25%. This reflects the growing concern some members have regarding inflation upward trajectory.

 

You can read the full economic briefing here

 08-August-monthly-brief-data-summary 

08-August-monthly-brief-Lee-comments

 

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