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Delving Beneath the Headlines

In the first quarter of 2019 the UK’s economy grew by 0.5%; up from 0.2% in the previous quarter. As with any other statistics though, it is very important to understand some of the trends beneath the figures in order to make balanced and fully informed investment decisions. For example, according to the ONS (Office for National Statistics) briefing note, one of the reasons for the apparent strength in growth is the comparatively low growth figures seen in the previous quarter; ‘making this quarter’s figures look stronger in comparison.’

The Brexit effect also cannot be ignored with areas such as manufacturing, importing and pharmaceuticals either rushing to complete orders or stockpile parts before the anticipated Brexit date at the end of March. As a result the manufacturing sector saw its fastest growth rate since 1988, a trend which is widely expected to be reversed in the current quarter as the effects of stockpiling play out. Stockpiling also had an effect on the trade deficit which virtually doubled to £18.3 billion.

If you are looking for advice on investments, or if your situation has changed and you may therefore need to review your existing investments, contact Beckworth by using one of the links on our website.