Weekly Economic Briefings - Uk Weekly Economic Briefing
February’s CIPS services survey delivered an upbeat message, as did a rebound in industrial output in January. Notwithstanding a poor performance from construction in the latter month, this leads us to expect GDP growth of 0.5% in Q1 of this year, in line with the average of the current expansion. But could the consequences of the “Beast from the East” undermine that prediction? Limited high frequency data offer some evidence of an impact from the recent cold spell. But comparisons with the hit to GDP flowing from the bad weather of 2010 are overblown.