August Monthly Brief

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Data Round Up

  • The first monthly estimate of GDP shows the economy expanding by 0.2% in three months to May. This points to an overall 0.4% expansion in q2, a pick-up from the weather related slump at the start of the year.

  • UK manufacturing PMI prints at 54.0 in July, continuing the recent easing in momentum.

  • The Bank of England voted to raise interest rates to 0.75% in their August meeting. This is only the second time rates have been increased since the financial crisis.

  • Consumer confidence continues to languish on the back of consumers’ perception of the general economic situation.

 

You can read the full economic briefing here.

 

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