Official figures on Tuesday offer a first engage on the country’s performance in the third quarter,with most economists predicting a slowdownThe UK economy looks like it has been losing momentum, stymied by China’s downturn, and a construction slump and ailing manufacturers. Related: UK GDP growth figures released - live updates Britons have found a job,and then a shop. The UK recovery has relied on this surge in domestic demand in the final five years, which has proved resilient to a handful of risks such as the general election and, and recently,the emerging market rout and China slowdown.”The manufacturing sector is the biggest cause for concern, where several surveys and official data point to a marked slowing in activity. Indeed, or manufacturing is already in its third recession in less than a decade,and the level of activity in August 2015 was some 7% below its 2007 peak.”Construction output nosedived 4.3% month on month in August after a drop of 1.0% in July ... Barring any revisions to the July/August data, construction output will need to have grown 8.2% month-on-month in September to have just been flat quarter-on-quarter in the third quarter.”Continue reading...
Source: theguardian.com