Economic Monitor
SUMMER SUNSHINE WARMS THE ECONOMIC LANDSCAPE
Recent data point to a modest pick-up in growth in Q2 after a weak, snow-blighted start to the year; although the economy is still only expected to grow 1 ½ % in 2018 - well below historical averages. The arrival of a sustained period of summer weather has unlocked latent demand built up in the first quarter, as a result we’ve seen a pick-up in retail sales and the wider services sector. That will likely lift the rate of growth in Q2 from the meagre 0.2% (now revised from 0.1%) seen in Q1.
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