The recent run of relatively upbeat economic data culminated last week with the preliminary estimate of Q3 GDP, which was stronger than even we had been expecting. Of course, there are some good reasons to not read too much into these figures. Growth was still very unbalanced, the figures could be revised, and the slowdown may just have been delayed, rather than avoided.
We still expect the economy to slow a little over the next couple of quarters. But businesses and consumers appear so far to be handling uncertainty created by the Brexit vote relatively well. Accordingly, the latest GDP figures reinforce our view that the immediate impact of the vote to leave won’t be particularly severe.
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