Last week ended with a general sense of relative pessimism, following the lack of the expected upgrade to Q1’s GDP figure and the news that net trade was a big drag on the economy. But we are not too worried by either of these developments. Significant revisions only tend to happen after a while. And the big picture is that net trade has been broadly neutral for the economy recently.
More encouragingly, the recovery in business investment seems to be picking up speed again. And the boost to household spending from lower energy prices is yet to come fully through. Accordingly, we remain optimistic about the outlook for the recovery.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services