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Economists: Expect UK GDP growth rate to decline to 0.2% in the second quarter.
Jin10 Data August 8th – Investec economist Philip Shaw wrote in a report to clients that the UK economy may have slowed in the three months ending in June. UK GDP data will be released next week, and according to Investec's estimates, the growth for that quarter may drop from a strong 0.7% growth in the first quarter of this year to 0.2%. This will to some extent validate the Bank of England's decision to lower interest rates by 25 basis points to 4.00% this week.