UK GDP: Growth stays resilient – UBS

FXStreet Insights Team FXStreet

UBS economist Paul Donovan notes that UK GDP has maintained recent strength, with further gains in the third quarter driven mainly by Services. He highlights that UK consumers have seen small positive real income growth and still have scope to lower savings rates, supporting ongoing consumption.

Services-led expansion supports consumption

"UK GDP continued its recent strength, with further gains in the third quarter."

"Services led growth, with car and chemical imports the main offset."

"UK consumers have generally experienced a small positive real income growth, but have room to reduce savings rates and continue consuming."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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