Pantheon Macroeconomics

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10th Sep 2021 14:41U.K., Economic Monitor

  • Surging Covid-19 cases largely were responsible for the near-stagnation of GDP in July.
  • The virus no longer is driving labour shortages, but many remain fearful and will spend less if it picks up.
  • We still look for quarter-on-quarter growth in 1.5% in Q3, half the rate expected by the MPC.

August business investment construction construction sector covid-19 economy education food gdp government growth July labour manufacturing March q2 q3 q4 rate hike raw materials remain retail services output services sector supply supply chain survey transport

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Keywords for: Covid Put the Brakes on July GDP; Expect a Lingering Drag This Year

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