We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

UK economic growth ‘picking-up’, says OECD


OECD's leading UK economic indicator rose to a Sept level of 100.2

Article comments

The UK economy is showing gradual signs of picking-up according to the OECD.

The organisation said on Monday, that its leading indicator for the UK climbed to a level of 100.2 in September from 100.1 in August, 99.9 in July, 99.8 in June, 99.7 in May, 99.6 in April and a low of 99.3 in early-2012/late-2011.

The OECD’s month-over-month increase in the leading indicator was 0.19 percent in September, which was up from increases of 0.16 percent in August, 0.14 percent in July, 0.10 percent in June and 0.07 percent in May. It said that the slow but sure climb suggested that UK “growth was picking up”.

Official figures from the Office for National Statistics (ONS) suggested that the UK had exited a recession in the third quarter when GDP grew by a better-than-expected 1.0 percent quarter-over-quarter.

“The fact that GDP growth of 1.0 percent quarter-over-quarter in the third quarter substantially outweighed the 0.4 percent decline suffered in the second quarter suggested that the economy had seen underlying modest growth over the two quarters combined after allowing for the various distortions to GDP in the second and third quarters,” said Howard Archer, chief UK economist at IHS Global Insight.

But he noted that while the third-quarter GDP growth of 1.0 percent quarter-over-quarter and the OECD’s September indicator were encouraging, the UK is by no means out of the economic woods and further relapses remain a very real possibility.

“Indeed, the economy may yet struggle to grow at all in the fourth quarter, as is evident from mixed survey evidence out so far for October. Much is likely to depend on whether or not consumers spend at a reasonable rate for the remainder of 2012,” Archer concluded.

Share:

Comments

UK economic growth ‘picking-up’, says OECD
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..


Co-operative Group posts £2.5bn loss

Annual loss the worst in its 150 year historymore ..

Google sees 19% rise in Q1 revenue

However, company missed analysts' expectation as ad prices slidmore ..

Starbucks to move Europe HQ to UK

Coffee chain says move reflects growing importance of UK marketmore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *