Monthly UK Economic Briefing
This report provides an overview of the current UK economic landscape, market movements and its implications on the UK real estate market.
- UK economic growth contracted by 0.2% in the second quarter of this year.
- Growth surprised on the downside, as a result Sterling took a hit and fell to its two-year low against the dollar.
- At the moment the performance of the UK economy is mixed in particular due to erratic moves largely due to businesses stockpiling ahead of Brexit.
- The unemployment rate edged upwards to 3.9%, this is the first time since the summer of last year.
- The labour market may have reached its turning point with the number of vacancies no longer increasing suggesting demand for workers has cooled off.