Commenting on this morning’s UK GDP data, Melanie Baker, senior economist at Royal London Asset Management said:
“Despite November’s lockdowns, the UK economy managed to eke out a more than respectable pace of growth in Q4 2020, by pre-crisis standards.
“Given that the economy shrank 2.3% month-on-month in November, the bounce in December was relatively tepid however, and January will see the UK economy contract yet again.
“A strong second half recovery looks in prospect given the UK’s so far successful vaccine rollout, but the uneven global rollout and threats of virus mutation still threaten to make Covid a reduced, but ongoing challenge for the UK economy.”
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 £148 billion of assets and employs 121 investment professionals as at 31 December 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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