- Prior +0.3%
- GDP +1.3% vs +1.4% y/y expected
- Prior +1.4%
The UK economy is seen grinding towards stagnation in Q3, with softer growth recorded in both the August and September months. This alongside the poor labour market data will just heighten odds of the BOE having to cut rates again in December. The temperature is certainly heating up for the central bank as we look towards the end of the year. Before this, rate cut odds for December were already up to ~82% and this should increase that further.
This article was written by Justin Low at investinglive.com.
