S&W The Pulse

In this episode we discuss an improving UK economic outlook, but with labour market uncertainty.The UK reported a record 20.4% slide in real GDP decline in the second quarter of 2020 as government lock-downs to limit the spread of the coronavirus took their toll. This was the worst decline on record.However, as many lock-down measures have been lifted, the more recent monthly data showed a significant improvement in June, an encouraging sign that the economy is moving in the right direction.August has a few anniversaries in British history: the 400th anniversary of the Mayflower’s departure from Southampton; the 75th anniversary for Victory in Japan in the UK and the 250th anniversary for when explorer Captain James Cook claimed Eastern Australia for Great Britain. Let’s talk about another date, 12 August, that might be a future candidate. Yes, this was the day the UK reported a record non-annualised 20.4% real GDP decline in the second quarter of 2020(1), in response to government lockdowns to limit the spre