How to read the economy and predict GDP growth in the UK and US


The UK and the US are not the only economies where the economy is performing better than forecast.

Here are some other signs to watch in the next couple of weeks.

Read more:Economists say a lack of wage growth could be a drag on UK economic growth and the prospect of a Brexit voteAhead of the release of the latest inflation figures, the Bank of England governor, Mark Carney, said he was “not sure” the Brexit vote would cause a slowdown in the economy.

“The UK has been relatively resilient to the impact of the shocks to the economy in the past, and the Bank is not certain that there will be a substantial slowdown in UK economic activity during the next quarter,” he said.

“However, there is no evidence that the impact on inflation is likely to be substantial enough to have a substantial impact on economic growth.”

Read more about economic events:Economist says it’s not clear Brexit will hurt growthA new report by the Institute of Fiscal Studies (IFS) suggests that Brexit will have little impact on the UK’s economy.

The IFS says that there are “no significant implications” from Brexit on the outlook for economic growth in coming months, and that there is “no evidence of any negative effect” on employment or consumer spending.

Read the report:The report argues that the UK is “faster than anticipated to reach full employment”, with the number of people working part-time or unemployed falling to the lowest level in decades.

However, the report warns that this could not be sustained without a sustained reduction in the cost of living.

Read More:The IHS says that the effect of Brexit will be “substantial” and the impact could be “negative” in the short term.

However the report argues there is a “high likelihood” that the cost-of-living will increase further over the coming months as businesses look to cut costs to keep up with rising prices.

It says that, in the longer term, it is likely that “the costs of borrowing, capital expenditure and tax collection will be greater than expected, resulting in a loss of competitiveness”.

The report concludes that “significant uncertainty remains” about the economic consequences of Brexit, but that the “significant economic and fiscal impacts of Brexit are difficult to assess in the light of available evidence”.

Read More about economic and financial events:UK’s chancellor calls for ‘big bang’ in Brexit dealThe Chancellor of the Exchequer, Philip Hammond, has called for a “big bang” in negotiations, with the UK hoping to clinch a deal in just a few weeks.

Speaking at a press conference in Brussels on Wednesday, Hammond said that it was “important” that there was a “fairer, more competitive and more prosperous” UK after Brexit.

He said that a Brexit deal must include a new set of rules to protect workers from being “left behind”.

“There is a need to bring back a fair deal for workers,” Hammond said.

“The rules need to be flexible so that the workers can take advantage of the opportunities that are now available.”

That is what we are going to be trying to do with a new approach.

“I want a new deal that gives the best opportunity for workers in the future, and it needs to have big bang results.

Read The Independent’s business editor, Neil Hallam, on Brexit, and more:Read more in the article