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Positive GDP figures released showing growth of 0.1%, takes forecasters by surprise

By rotide
Created 13/01/2023 - 12:45

George Lagarias, Chief Economist at Mazars [1] comments: "UK GDP grew for the second straight month, defying expectations. While a part can be attributed to increased activity related to the world cup, overall, the picture is one of otherwise healthy growth in the services sector. We should not, however, perform a victory lap for the UK economy just yet. The wider picture is that macroeconomic variables have become increasingly unpredictable. We see this trend continuing and possibly exacerbating over the foreseeable future. The global economy remains significantly unbalanced, consumption patterns are disrupted, and we expect larger oscillations in growth and inflation than in the past. This could leave forecasters confused for some time, especially if they are heavily reliant on quantitative models."


Source URL:
https://www.newbusiness.co.uk/content/positive-gdp-figures-released-showing-growth-01-takes-forecasters-surprise