Parallel Wealth Management’s Post

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/eUaN9SPV #GDP #Economy #UK

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/emMfZGkr #GDP #Economy #UK

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/eggzYfAa #GDP #Economy #UK

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/e6euj-k2 #GDP #Economy #UK

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/etJkcGXA #GDP #Economy #UK

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/eJ2TD_A8 #GDP #Economy #UK

Worries around a potential US recession continued to fade last week, as a raft of positive economic data appeared to help build confidence in global markets. Chief among these was UK GDP, which grew by 0.6% in the second quarter of 2024, compared to the first quarter. The first quarter itself saw some strong growth. This means GDP has increased by 0.9% since the second quarter of last year despite the recession at the end of 2023. Read more: https://lnkd.in/eU8tB2tb #GDP #Economy #UK

Britain's economy is on the brink of overcoming its recent recession, with February data indicating a 0.1% rise in GDP, aligning with forecasts 🗞️ This increment sustains the recovery initiated in January, which saw an adjustment in growth figures from 0.2% to 0.3%. Read more here: https://bit.ly/4av0vdD #Accountancy #Updates #BritainsEconomy #GDP

The OECD upgraded #UK growth forecasts for the next two years by more than any other Group of Seven nation, despite lingering concerns about underlying #inflation pressures in Britain. The British #economy will expand by 1.1% this year after a “relatively robust” performance in recent months — making it the second-fastest in the G-7 after the US — and by 1.2% in 2025, the OECD said on Wednesday. In May, the Paris-based think tank had forecast growth of just 0.4% this year and 1% in 2025. The combined 0.9-percentage-point upgrade was larger than for the other six G-7 members. That’s a boon for Prime Minister Keir Starmer, who was elected in July on a promise to achieve the fastest growth in the group of advanced economies. - Bloomberg Privalgo provides a variety of financial services, including opening named bank accounts, offering competitive #FX rates and creating bespoke risk management solutions to mitigate #currency risk. For further details, feel free to reach out to me or schedule an appointment. Please note that this post is for informational purposes and should not be considered as financial advice.

Let’s start the week with something positive. On Friday it was confirmed that the UK’s admittedly short lived recession is now officially over. Figures showed GDP jumped by a stronger than expected 0.6% in the first three months of this year. This could mean the economy may finally be gaining some momentum after years of slow growth. While an immediate cut in interest rates is doubtful, it’s certainly moving in the right direction. #recession #ukeconomy #GDP #grossdomesticproduct #interestrates