Lates News

HSBC bank said in a report that given the recent global uncertainty, the UK economic growth, which exceeded expectations in the first quarter with a growth of 0.7%, may only go downhill. Strong investment driven by one-off factors has helped, but trade may decline in the second quarter due to possible pre-Brexit export front-loading. In addition, rising water and electricity bills, as well as the impact of increased wages, taxes, and minimum wages on business labor costs, will also be felt. However, the economic growth in the first quarter remains solid, especially considering falling inflation and a resilient labor market. The Bank of England, which is expected to interpret the 0.6% economic growth as strong support for its "cautious and gradual" approach to interest rate cuts.