It’s downhill from here for the UK economy - UK Q4 2017 GDP media comment

26.01.2018

 

Commenting on the UK Q4 GDP preliminary estimate, Katharina Utermöhl, European economist at Euler Hermes, the world’s leading trade credit insurer, said:

 

The preliminary Q4 growth estimate underlines the UK economy’s resilience in the aftermath of the Brexit vote. But despite a strong quarter, the economy is already experiencing a clear slowdown which has been masked to some extent by the favourable global economic backdrop.


The UK economy is increasingly struggling to keep up with its European peers and we expect it to remain an economic laggard this year as the slow-burning growth deceleration that is already underway is likely to become more pronounced in 2018. While the Eurozone looks set to expand by a further +2.2 per cent this year after +2.5 per cent in 2017, we expect UK GDP growth to reach just +1.4 per cent this year – one of the lowest growth rates across the EU.
 

Full commentary attached.


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