The GDP data released this week indicated that in Q3 households were still having a better time than businesses. But consumer spending growth will probably start to weaken before too long as higher utility prices and higher taxes eat into real incomes. And with yet more news this week of the brewing Brexit dispute over the Northern Ireland Protocol, business investment is unlikely to compensate. Overall, the near-term economic outlook is looking more challenging than it did a few months ago.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.