U.K Economy Sees ‘Notable Slowdown’ in First Half of 2017
- Modest pickup last quarter led by retail and film industry
- BOE policy makers publish decision, new forecasts on Aug. 3
The U.K. economy registered 0.3 percent growth in the second quarter as the Office of National Statistics saw a 'notable slowdown in the first half of this year.' Bloomberg's Mark Barton reports on 'Bloomberg Surveillance.' (Source: Bloomberg)
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The U.K.’s lackluster growth is doing little to support the Bank of England’s hawks.
The expansion picked up only modestly to 0.3 percent last quarter, compounding what the Office for National Statistics called a “notable slowdown in the first half.” It suggests the economy’s resilience since the Brexit vote has weakened and it leaves the BOE’s divided policy makers with scant further evidence to justify a interest-rate increase next week.