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GDP: A recovery made in Britain
28 July 2015
Commenting on the Office for National Statistics’ estimate of UK gross domestic product (GDP) for the second quarter of 2015, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:
“The UK recovery is back on track after a lacklustre start to the year. A rebound in business services, utility output and mining contributed to the bounce back in growth.
“This recovery is made in Britain with rising incomes and low inflation buoying consumer spending.
“By contrast faced with a rising pound, up 20% from its 2013 lows, today’s data show the manufacturing recovery has lost momentum in recent months.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.