X

X

Invesco: UK GDP figures showed a strong growth rebound of 7.5% in 2021, yet domestic headwinds remain

Invesco

Sebastian Mackay, Invesco multi-asset fund manager, comments on the latest UK GDP figures released this morning and outlines the domestic headwinds the UK economy faces in the months ahead.

Sebastian Mackay said:

“A decent final quarter confirmed a strong growth rebound of 7.5% in 2021 from the 9.4% decline in 2020, albeit real GDP remains below its pre-pandemic level.

Looking ahead, UK households face a triple whammy of higher energy prices, an increase in the rate on National Insurance contributions and higher interest rates. Accumulated savings will provide a cushion for wealthier households but little comfort for lower income families.

These domestic headwinds, combined with a backdrop of decelerating global growth indicate a more challenging outlook for the UK economy.”

This Week’s Most Read

Latest IFA Magazine Podcast Episodes

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

IFA Magazine