Pantheon Macroeconomics

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12th Aug 2022 15:08U.K., Daily Monitor, Weekly Monitor

Q2 GDP would have held steady without the Jubilee and risen by 0.9% q/q if Covid spending hadn't plunged.

The 0.2% q/q drop in households' real expenditure was a good result, given the massive fall in real incomes.

A recession isn't inevitable, provided fiscal support is increased substantially and households draw on savings.

business confidence business investment capex cpi cpi inflation energy gdp growth government inventories July June labour May mpc ONS public sector q1 q2 q2 gdp q3 q4 real disposable incomes real incomes recession savings surveys trade unemployment unemployment rate winter

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Keywords for: 15 Aug 2022 UK Monitor

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