According to Jinshi, Rob Wood, a macroeconomic analyst at Panson, said that the UK is leaving last year's mild recession in the rearview mirror, and economic growth in the three months ending in May this year reached the highest level in nearly two and a half years. The data for June may pour some cold water on the economy, but strong consumer spending should drive further acceleration of economic growth. The rapid growth of real wages will at least translate into one-to-one spending. The prospect of interest rate cuts and a more stable political and economic environment means that consumers are unlikely to further increase their savings.
