Company of heroes 1 british voice lines12/13/2023 ![]() ![]() The reason, Goodwin says, the official data (released by the ONS) and the data from surveys like CIPS' and Markit's PMIs (which are forward looking) doesn't match up, making the creation of an accurate picture tricky. "But we are unconvinced and see a number of reasons, both related to the data and the wider economic backdrop, which suggest that the gloom that has been increasingly enveloping the UK economy has been overdone." "Much of the subsequent media commentary has argued that these results suggest we are unlikely to see much of a rebound in GDP growth in Q2 and that the UK economy is in the midst of a sustained slowdown," Andrew Goodwin, Oxford's lead UK economist said on Friday. Now, however, a hike looks impossible thanks to the poor data.īut the current data, according to Oxford Economics at least, does not augur economic doom for the UK in the near future, and that such forecasts have been "overdone" in recent days. Just a month ago, a Bank of England interest rate hike seemed a certainty at its May meeting - held next Thursday. Services PMI - 52.5, a little better than in the previous month, but well below expectations.Manufacturing PMI - 53.9, a 17-month low.Q1 GDP growth - 0.1%, compared to a forecast of 0.3%. Growth in the final quarter of 2017 was 0.4%.LONDON - Virtually every indicator and data point released in April and early May for the UK economy was below expectations, and some were truly terrible. ![]() Goodwin argues that the way people are analysing the data makes it look a lot worse than it really is.That's the assessment of Andrew Goodwin, lead UK economist at Oxford Economics.On the surface, the British economy looks to be on shaky ground, but things aren't as bad as they might seem.Account icon An icon in the shape of a person's head and shoulders. ![]()
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