James Smith, economist at ING, believes that the UK economy rebounded in August, but the pace of growth is slowing after a strong increase earlier in 2024. He said that economic activity increased by 0.2% in August, but this came after two months of stagnation, and the 0.7% and 0.5% growth seen in the first two quarters of this year will not be repeated in the second half. This suggests that the UK's Central Bank has reason to be skeptical of the strong growth data in the first half of the year and to avoid raising its future growth forecasts. Smith said that September's service sector inflation data will be crucial, and if it falls below the Central Bank's expectations, it could accelerate policy easing.
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Gate.io: Se os dados mostrarem que a economia do Reino Unido está a abrandar, poderá acelerar o ritmo de corte de juros
James Smith, economist at ING, believes that the UK economy rebounded in August, but the pace of growth is slowing after a strong increase earlier in 2024. He said that economic activity increased by 0.2% in August, but this came after two months of stagnation, and the 0.7% and 0.5% growth seen in the first two quarters of this year will not be repeated in the second half. This suggests that the UK's Central Bank has reason to be skeptical of the strong growth data in the first half of the year and to avoid raising its future growth forecasts. Smith said that September's service sector inflation data will be crucial, and if it falls below the Central Bank's expectations, it could accelerate policy easing.