The strong 0.4% m/m rise in real GDP in July suggests that the resilience of the economy in the first half of the year continued into the second half, partly due to AI-related activity. But higher energy prices and borrowing costs will soon take a bigger toll on real activity, especially if this week’s big leaps are sustained.
We’ll be discussing the differences in the outlook for BoE, Fed and ECB policy in a 20-minute online briefing at 3pm on Thursday 17th September. (Register here.)
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