Half Full or Half Empty? These latest UK Gross Domestic Products (GDP) figures bring the classic metaphor alive what is actually in glass.
The reality is that 0.3% increase in spring quarter The 0.7% of the year between April and June is slow from the beginning of the expansion.
Nevertheless, this news is positive as it was expected to prevent the economy from growing completely, which was fully growing based on the already released monthly data.
The data for June was much better, which is encouraging, while the bad figure for April – initially showing 0.3% decline – was also modified.
So, to gauge cosmic glass content, choose a time limit.
Operated by the latest monthly data service sector, above expectations, good.
The latest quarterly data shows the economy growing, but slowly.
For the first half of the year, there has been a total solid growth over a terrible time, more than other major economies.
My initial response to the data was that the Chancellor and the Prime Minister would now have to retire the “fastest growing G7 Economy” line, as it was no longer true.
It appears that it will be true in the first half of the year, pending the final data from Japan.
Although it changes the roundposts slightly, it can be justified.
One of the criticisms of G7 pride in the first quarter was that 0.7% was flattering from an innings of exports in the year before an innings of exports to avoid potential tariffs as well as housing transactions to reflect stamp duty changes.
Melting the figures of January to March and April-to-June leads to some iron-outs of those one-closed factors.
The combination of both periods shows an increase of 1% from the rest of the advanced economies. During the period of fully unprecedented global trade uncertainty, a potential oil shock increases and Wobbly policy u-turn, it is solid development.
This is certainly not corresponding to the recession vibes given in some quarters, which were given oxygen from the poor April GDP figure.
The problem is that Doom -Mongaring – some of them that can return from the road from a year ago – self -supply.
Consumer confidence has not been restored yet. There is a continuous cycle of expectations of tax growth that does not help. The result is that the UK consumers are saving a percentage of double digits of their income, which is basically an epidemic level of savings.
The income of rising post-inflation is yet to translate into a good factors and expenses.
The troubles with taxes, activists and employment generations for retail and hospitality industry are clearly very real.
These are very visible parts of the economy, and were still influenced by the policies of the government, and have returned the opening of their opening of job opportunities, especially for young people.
But these sectors are not an entire economy and the June figures are shown, for example, the IT industry is doing well.
The latest quarter would have collided with a dramatic decline in car exports in the US which will be cured in the coming months after signing the UK-US trade deal.
Better trade conditions with the European Union and India should also help.
Further growth, although at slow, is expected in the next few months.
So when it is not particularly sharp, the recession marks are also away from the mark.
The question is now from this point, do consumers and business start working more confidently with expenses and investment?
It is still for tombs.
