To try and rein in soaring prices. So where is the Economy Heading . Im joined now by Salomon Fiedler whos an economist at berenberg bank. Better than expected numbers . More thanjust better than expected numbers . More than just a Coronation Weekend you alluded to, june was the strongest month. The coronation was in may. Domestic spending is relatively strong at the moment or has been in 02. Strong at the moment or has been in q2. Consumers have spent and we see that in the figures now. 02. Consumers have spent and we see that in the figures now. That in the figures now. There are concerns for that in the figures now. There are concerns for the that in the figures now. There are concerns for the longterm that in the figures now. There are| concerns for the longterm health that in the figures now. There are i concerns for the longterm health of concerns for the Long Term Health of the uk economy, what is going on there . , ,. , the uk economy, what is going on there . ,. ,. There . May
We start here in the uk, where figures out earlier show the uk economy grew by 0. 2 between april and june following a rebound from an extra bank holiday for the kings coronation. Growth injune alone was stronger than expected at 0. 5 . High inflation remains a problem. The Bank Of England has raised the cost of borrowing 1a times since the end of 2021 to try and rein in soaring prices. So where is the Economy Heading . Were nowjoined by victoria scholar, who is the head of investment at interactive investor. Lovely for tojoin us lovely for to join us here on the programme. Not. 2 . Essentially, thatis programme. Not. 2 . Essentially, that is stagnation, isnt it . Actually, these figures are a bit better than analysts were expecting, both in the Second Quarter and in june we saw particular strength in the construction. Injune we saw a bounce back in manufacturing, publishing, so things like books and magazines also fare pretty well, and car sales have been benefiting from the fact the
At a near standstill since the beginning of the year. The Bank Of England has raised the cost of borrowing 1a times since the end of 2021 to try and rein in soaring prices. That has weighed on the economy, but experts have warned the full effect of those Interest Rises has yet to be felt. Emma vardy reports from morecambe in the north of england. Rowing is a delicate art. A bit like managing economy. A year of slow growth, business is feeling the pressure from rising costs, means as no surprise that many are feeling cautious about their ambitions were branching out. We cautious about their ambitions were branching out. Were branching out. We have struggled were branching out. We have struggled to were branching out. We have struggled to try were branching out. We have struggled to try to were branching out. We have struggled to try to work were branching out. We have struggled to try to work out i were branching out. We have| struggled to try to work out a rationale for expanding. So w
AS the nation grapples with insufficient tax revenue, growing government debt and the inability of government-linked companies to catalyse economic dy.
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