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Monday, August 24, 2020

GDP Growth For September Expected To Be a Record

The FT reports that total consumer spending during the first two weeks of August exceeded the same period one year earlier (as per figures from Fable Data. 

This is the first time there has been annual growth in spending since the lockdown was introduced in March. 

A new average of forecasts by City of London economists suggests that GDP is set to rise 14.3 per cent in the third quarter, reversing 55 per cent of the 20.4 per cent drop in output in the three months to June 30. 

The predicted GDP growth for the three months to September 30 would be a record, with economists’ forecasts showing the UK likely to move from the bottom of the G7 performance table in the second quarter to the top in the third.

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