British economy tries to avoid recession in run-up to Brexit – Forex
Uk GDP growth for June, July and August of 0.3% against the previous three-month figure exceeded all economists' forecasts, the ONS said. This report indicates that the British economy can avoid recession, although in August there was a slight decline in production – by 0.1% compared to July, when there was a 0.4% increase. Due to the unnecessary reserves of raw materials accumulated by companies, since Brexit did not take place on March 29, the country's economy shrank by 0.2%. If the third quarter also ended in a fall in GDP, it would mean a recession. But to do this, according to ons calculations, GDP in September should have decreased by 1.5%. According to the Bank of England's September forecast, GDP will grow by 0.2% in the third quarter, which, in particular, will be facilitated by higher public spending. ONS experts believe that economic growth has strengthened over the past three months, despite weak data on output.