Penson Macro: UK economic recession is now a thing of the past

On July 11th, Jinshi data, Pan Sen, a macroeconomic analyst, Rob Wood, stated that the UK is putting last year’s mild recession behind it, with the three-month economic rise reaching the highest level in nearly two and a half years as of May this year. June’s data may pour some cold water on the economy, but strong consumer spending should further accelerate the rise of the economy. The rapid rise in real wages will at least translate into one-to-one spending. The prospect of interest rate cuts and a more stable political and economic environment means that consumers are less likely to further increase their savings.