Commenting on this morning’s UK GDP announcement, Melanie Baker, senior economist at Royal London Asset Management said:
“The UK economy bounced back strongly in Q3, while remaining one of the worst hit by the COVID-19 crisis.
“Although vaccine developments have brought hope of a return to some semblance of ‘normal life’ next year, there is quite a long way to go before the economy gets back to where it was pre crisis.
“Despite the 15.5% quarter on quarter non-annualised record gain, output in September was still 8.2% below February levels.
“Now, with England in lockdown, a contraction in output looks likely in Q4.”
About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £139 billion of assets and employs 113 investment professionals as at end July 2020. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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