UK economic uncertainty
Consumer spending in June was at its weakest since the mid-1990s, adding further evidence that the British economy is shrinking. According to survey data released today by BRC.
- Consumers are no longer propping up the economy.
- Lower consumer confidence.
- Weak second quarter GDP figures expected.
- Continued Brexit paralysis.
- Construction sector moving in to contraction.
- Lack of business investment.
- Service sector PMI data suggest the economy is shrinking.
- UK manufacturing PMI data at lowest level for six years.
- UK leadership challenge to find a new Prime Minister.
The continued fallout from Trumps tariffs levelled on China continues to cast a shadow over global trade including that of the UK economy.
Definition of GDP
GDP – Gross Domestic Product is the measure of the size and health of a country’s economy. It is the method used to measure and compare how well or badly a country is doing.
The value, profits and consumption of every product, item or service bought or sold by companies, or other economic resources resident in a country in a given period of time is part of the GDP figure.