Janus Henderson: The debate about whether the UK economy slips into recession continues

October 12, 2023

Stephen Payne, Portfolio Manager on the Global Equity Income Team at Janus Henderson Investors, comments on to today’s UK GDP figures:

'August's GDP print shows a bounce back from July's decline (revised to -0.6% from -0.5%) coming back in line with expectations at +0.2%. The growth was driven by the Services sector with production and manufacturing in decline. This tallies with what we are hearing from companies on the ground. The monthly data is very volatile at the moment, impacted by both weather and strikes. The third quarter overall looks set to be about flat. This data is not really market moving given it was in-line but will on balance probably be mildly reassuring. The debate about whether the UK economy slips into recession or not continues.'