Press releases

GDP: Deloitte chief economist comments

30 September 2015

Commenting on the Office for National Statistics’ latest estimate of UK gross domestic product (GDP), Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“Low inflation, cheap money and rising pay have rejuvenated the UK consumer.

“With manufacturing output slowing this isn’t the perfectly balanced recovery hoped for by policymakers.

“But rising consumer spending, which accounts for almost two-thirds of the economy, offers the best insurance policy against global weakness knocking Britain’s recovery.”

End

Notes to editors

About Deloitte
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.

Mark Smith
Deloitte LLP
+44 (0) 20 7007 7082
+44 (0) 75 9004 1301
marksmith@deloitte.co.uk

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