GDP growth at a 6 year low but no recession imminent?
Business Growth Expert and Yomdel CEO, Andy Soloman, commented:
“We’ve seen the impact our continued Brexit debacle is having on areas like the property market, but whichever way you look at it, it’s clear this detriment reaches right across the UK economy.
The slowest rate of annual growth in six years and a month on month decline demonstrates the fragile position we find ourselves in, however, this is not an indication of an imminent recession.
It is simply a snapshot at a time where wavering consumer sentiment is hitting our retail and motor trades in particular, whilst many businesses hold back on investment until the future of our economic landscape becomes clearer.
Add to this the limbo we find ourselves in with regard to a Brexit deal and it’s hardly surprising that the economy isn’t firing on all cylinders.”