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UK GDP: Resilience in Growth Persists – UBS
Continued consumption in the UK is supported by modest real income gains and scope for consumers to reduce savings rates, according to UBS economist Paul Donovan. He points to further GDP growth in the third quarter, largely led by services, as evidence that the economy has sustained its recent strength.
How does services-led growth support consumption?
"UK GDP continued its recent strength, with further gains in the third quarter."
"Services led growth, with car and chemical imports the main offset."
"UK consumers have generally experienced a small positive real income growth, but have room to reduce savings rates and continue consuming."
(This article was produced with assistance from an Artificial Intelligence tool and reviewed by an editor. Learn more.)
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