UK Economy Recovers Faster Than Expected

UK Economy Recovers Faster Than Expected

The British economy has been given a boost with the news that the there has been twice as fast growth in the third quarter as expected.

Economists had been widely predicting growth of 0.4 percent as the opposed to the actual rate of 0.8 percent that has been recorded.

Leading economist James Knightley said: “This is the second major GDP growth surprise in a row and suggests that the UK economy is more resilient than many had feared.”

Much of the rate of growth is attributed to the recovery of the construction sector, which grew strongly at 8 percent, which contributed to nearly a third of the total GDP growth.

Economist James Nixon said: “It’s basically all down to construction again. The underlying rate is obviously significantly less than these headline numbers would suggest.”

There is data though to suggest that the recovery may be becoming more broad based with manufacturing and service industries performing better than predicted.

Ricky Steedman

Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.

His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.

Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.

Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.