UK economy suffers weakest quarter of GDP growth since 2012
According to Eurostat, quarterly growth in the eurozone is down 0.4% compared with 0.7% in the last quarter of 2017. The UK economy, however, is on the brink of stagnation with only 0.1% growth, its weakest economic expansion since 2012 as reported by the Office for National Statistics (ONS).
In other quarters we can see short-term predictions by some London economists proclaiming that the Pound (GBP) is beginning the road to recovery as sterling rallies on suggestions it was oversold in wake of BoE meeting.
You have to note that the Pound (GBP) exchange rates pushed higher on Monday as the currency appeared to begin to recover from last week’s setback following the Bank of England’s (BoE) latest policy meeting.
However Sterling could face a notable obstacle this morning as economists forecast today’s employment figures will reveal that UK wage growth slowed in March.
Snakes and ladders? Tentatively optimistic or cautiously pessimistic – your choice!
