Press releases

Deloitte’s chief economist GDP figures comment

10 July 2018

Commenting on the latest GDP figures, published this morning by the Office for National Statistics, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“The long awaited bounce back from a weak first quarter has failed to materialise, with the rolling three month growth rate unchanged into May. When we get the full picture for second quarter growth we’re likely to see a slight pick-up, as a result of stronger growth in retail, manufacturing and services in June. However the fact that first half growth is set to be below trend hardly makes a compelling case for an August rate rise.”

End

Notes to editors

About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NWE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press.

For more information, please visit www.deloitte.co.uk

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