Forex & Economic Commentary by Lloyds TSB

The first estimate of UK Q2 GDP growth published today will show that the economy is slowing sharply, but still well off 1990/91 recession levels, see chart. We are expecting 0.2% growth on the quarter down from 0.3% in Q1 and well below the peak in quarterly growth of 0.9% a year ago. The Q2 figure translates to 1.6% growth on an annual basis (2.3% in Q1).

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