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UK GDP: Growth Holds Firm – UBS
UK GDP extended its recent strength into the third quarter. UBS economist Paul Donovan identifies Services as the main driver of further growth. Modest positive real income growth and room to reduce savings rates leave UK consumers able to sustain consumption, he notes.
Services drive growth as consumers retain spending capacity
"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 created with the help of an Artificial Intelligence tool and reviewed by an editor. Learn more.)
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