United Kingdom: Growth resilient as BoE stays on hold – Standard Chartered
Standard Chartered’s Christopher Graham notes that UK growth remained resilient in Q2, with GDP rising 0.4% q/q, driven by private consumption and business investment while government spending dragged. He expects a slowdown in H2, with growth easing to 0.2–0.3% q/q in Q3 and Q4.
Standard Chartered's Christopher Graham reports that the UK economy maintained resilience in the second quarter, with GDP growing by 0.4% quarter over quarter. This increase was fueled by private consumption and business investment, while government spending acted as a drag. The bank anticipates a deceleration in the latter half of the year, with growth forecasting to ease to 0.2-0.3% quarter over quarter in Q3 and Q4.
Standard Chartered has raised its 2026 growth forecast to 1.3%, while still expecting the Bank of England to maintain interest rates throughout the year.
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