UK economy exceeds Q1 growth expectations, yet recession looms amid inflation concerns

Posted on October 16, 2023   |  

UK's Q1 economic growth surpassed expectations, but recession risk looms due to high inflation.

The initial Q1 growth estimate of 0.1% has been revised to a 0.3% expansion.

Q2 GDP growth of 0.2% indicates a slowdown instead of the previously anticipated acceleration from Q1.

Despite the revision, the UK's economy still falls behind most G7 nations, except Germany and France.

While the UK outperforms Germany, it trails behind the US and Japan in post-pandemic economic performance.