Several months ago we at investorAi warned that clients must be prepared to watch for the key word: stagflation. Aeryn (AI) has noticed an increase in the use of this word in news articles describing several economies. This article for subscribers concerns the UK.
In Detail:
The UK economy remained stagnant in the third quarter of 2024, with GDP growth flat at 0%, as reported by the Office for National Statistics (ONS). This marks a sharp decline from the 0.4% growth recorded in Q2 and falls short of analyst expectations for a modest 0.1% increase.
The lackluster performance was driven primarily by weakness in the services sector, which suffered due to declines in insurance and financial services. Meanwhile, production contracted by 0.4%, with significant drops in the supply of gas, electricity, air conditioning, and steam contributing to the decline.
One of the primary factors behind this stagnation is heightened concern over a potential UK rece ...
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