PA ANALYSIS: The other side of the Brexit coin
As the Brexit vote looms the focus is on what it will mean for Britain, but there is another side to this coin.
As the Brexit vote looms the focus is on what it will mean for Britain, but there is another side to this coin.
The United Kingdom’s gross domestic product growth for the first quarter of this year was confirmed as 0.4% this morning by the Office for National Statistics.
The latest official UK GDP figures showed 0.4% growth in the first quarter of 2016 in line with forecasts, and down from 0.6% the previous quarter.
Japanese company profits are performing much better than those in the US or Europe, according to Nikko Asset Management.
India overtook China as the world’s fastest growing major economy on Monday, leading some asset allocators to suggest it might be time to put China allocations on hold and opt for India instead.
China’s gross domestic product growth slipped to a 25-year low of 6.9% in 2015 it was confirmed today, but markets were largely unconcerned.
The Eurozone has been a major beneficiary of the shift in terms of trade between energy producers and consumers.
The upward revision to US GDP data may not suggest real strength in the US economy, but it cements the case for a December rate rise, argue fund managers.
With market confidence still fragile after the China-inspired slump, the last thing UK equities funds needed was soft economic data to be released.
UK investors with consumer spending exposure are enjoying their time in the sun now, says Smith & Williamson’s Mark Boucher, but will have to look at paring back as the interest rate rise looms.
UK GDP is estimated to have grown 0.7% in the second quarter the Office for National Statistics said on Tuesday, up from 0.4% reported for Q1.
Mixed messages on the health of the United Kingdom’s economy are making deciding on a UK equities weighting a particularly tricky task right now.