“These pent up savings have been getting eroded. On the other hand, it’s a floating rate mortgage market and a lot of the mortgage adjustment has happened, because the average term is about three years fixed and we’ve had three years of rising rates. Energy prices have calmed down, so the two things that hit the pocket book are calming down, and I will say that I’m very optimistic on the U.K.,” he said.<\/p>\n

“I think that growth is not great, but growth is fine. It’s not as strong as the United States, but there are so many institutional advantages in the U.K., and it’s the home of so much innovation, so much technology.”<\/p>\n

U.K. gross domestic product fell by 0.1% between July and September, after flatlining in the prior three months, but has proven more resilient than many forecasters expected in the face of a sharp rise in interest rates over the last two years.<\/p>\n

The next round of quarterly data due in February will show whether the economy has entered a technical recession, defined as two consecutive quarters of GDP shrinkage.<\/p>\n<\/div>\n<\/div>\n

Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"

LIVERPOOL, U.K. – Oct. 11, 2023: Britain’s main opposition Labour Party leader Keir Starmer applauds a speaker the final day of the annual Labour Party conference in Liverpool, northwest England, on October 11, 2023. Paul Ellis | Afp | Getty Images Political risk in the U.K. is “far less than it’s ever been” as the…<\/p>\n","protected":false},"author":1,"featured_media":63094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-63093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n