The UK economy returning to growth in August has fuelled expectations that interest rates will be left unchanged again next month.
The economy grew marginally by 0.2% in August following a sharp fall in July.
Analysts described the figures as “lacklustre” and said higher borrowing costs and the higher cost of living was weighing on consumers and businesses.
Analysts described the figures as “lacklustre” and said higher borrowing costs and the higher cost of living was weighing on consumers and businesses.
A major business group said the economy was “holding up” but remained in a “precarious state”.
David Bharier, head of research at the British Chambers of Commerce, said most small and medium-sized businesses had reported “no increase in their investment plans” in the current economic climate, and said there needed to be a “strategic vision” for the long-term investment in the UK.
The UK is not currently in recession but there have been concerns over weak growth, with the economy set to be a key area in the election which is widely expected next year.
In September, Bank of England governor Andrew Bailey said there were “increasing signs” that higher rates were starting to hurt the economy.
The UK economy returning to growth in August has fuelled expectations that interest rates will be left unchanged again next month.
Analysts described the figures as “lacklustre” and said higher borrowing costs and the higher cost of living was weighing on consumers and businesses.
The economy grew marginally by 0.2% in August following a sharp fall in July.
A major business group said the economy was “holding up” but remained in a “precarious state”.
Analysts described the figures as “lacklustre” and said higher borrowing costs and the higher cost of living was weighing on consumers and businesses.
Analysts described the figures as “lacklustre” and said higher borrowing costs and the higher cost of living was weighing on consumers and businesses.
A major business group said the economy was “holding up” but remained in a “precarious state”.
David Bharier, head of research at the British Chambers of Commerce, said most small and medium-sized businesses had reported “no increase in their investment plans” in the current economic climate, and said there needed to be a “strategic vision” for the long-term investment in the UK.
The UK is not currently in recession but there have been concerns over weak growth, with the economy set to be a key area in the election which is widely expected next year.
In September, Bank of England governor Andrew Bailey said there were “increasing signs” that higher rates were starting to hurt the economy.
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