Rolling coverage of the day’s economic and financial events, including a new health check on the UK economy * Latest: Growth confirmed at just 0.5% * Trade makes record-breaking dent in growth 11.04am GMT WE ALSO HAVE DISAPPOINTING GROWTH FIGURES FROM GREECE. Well, when I say growth... its economy actually contracted by 0.9% in the third quarter of 2015, according to stats body Elstat. Greek #GDP contracts at faster pace than previously estimated: Recent figures show that the economy shrank 0.9% q/q (prev. -0.5%) 10.47am GMT KALLUM PICKERING, ECONOMIST AT GERMAN BANK BERENBERG, PREDICTS THAT UK GROWTH WILL ACCELERATE TO 0.6% IN THE CURRENT QUARTER. He believes the domestic economy is strong enough to ride out problems overseas: Today’s GDP and services data reflect an economy driven by domestic demand that is resilient to foreign risks. The idea that the UK economy would be affected in light of accumulating foreign risks through more channels than trade is just that, an idea. Domestic momentum was maintained through the third quarter and going forward we expect it to remain resilient with GDP growth accelerating to 0.6% qoq in Q4 2015 and maintain this pace over the medium-term. Continue reading...
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