Our monthly Economic Review is intended to provide background to recent developments in investment markets. The bulletin also gives an indication of how some key issues could impact in the future.
The latest gross domestic product (GDP) statistics revealed that the UK economy grew more strongly than expected in June, although more recent survey data does suggest a renewed contraction looks ‘inevitable.’
In our economic review this month we begin by looking at data from the Office for National Statistics which shows the UK economy grew by more than expected. We then run through the latest Bank of England Rate rise and what it means for future rates. Market data was mixed this month with key indices ending down on the previous month. There is some good news from Inflation data which is starting to fall back. Finally we look at wage growth which has been high, but is showing signs of cooling.
Our update this month includes the following headlines:
- UK growth rate exceeds exceptions
- Interest rates rise again
- Headline inflation rate declines
- Wage growth hits record high
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It is important to take professional advice before making any decision relating to your personal finances. Information within this newsletter is based on our current understanding of taxation and can be subject to change in future. It does not provide individual tailored investment advice and is for guidance only.