NIESR said it expects UK GDP to grow by 1.1% qoq in Q4, including 0.4% mom growth in October.
Rory Macqueen Principal Economist, Macroeconomic Modelling and Forecasting said: The post-Covid bounce seems to be nearing its end, with hospitality returning to normal growth rates in September after a bumper August. Wholesale and retail activity shrank for a fifth consecutive month and gas distribution for the fourth, which may suggest supply constraints or the unwinding of unusually high demand earlier in the year.
“Overall growth is likely to slow further in the fourth quarter but will benefit if public confidence in keeping Covid-19 under control has enabled a return to growth in consumer-facing services sectors.”
