UK growth figure surprises economists

By rotide
Created 10/04/2019 - 15:21

Figures just released by the Office for National Statistics (ONS), show an unexpected rise in UK growth by 0.3% in the last quarter. Good news you might think? but no, that too is Brexit related. In anticipation of potential shortages manufacturers are bringing forward their purchases, otherwise known as stockpiling. The consensus of opinion from economic forecasters was zero growth but the rise was in line with the previous quarter after revision.

The ONS do not usually capture the reasons why  business habits change but did mention a well respected survey that confirmed that stockpiling is taking place.

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