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UK growth slowdown quickening

Economic growth is slowing at its fastest pace in more than a year according to research by the Organisation for Economic Co-operation and Development (OECD)

The Telegraph reports that UK activity freee for the sixth straight month in July, and at its steepest rate since June 2010.

While this data indicates we are entering a period of “slowdown”, it is also very important because OECD is believed to predict economic turning points six months in advance.

Economic growth is slowing at its fastest pace in more than a year according to research by the Organisation for Economic Co-operation and Development (OECD)

The Telegraph reports that UK activity freee for the sixth straight month in July, and at its steepest rate since June 2010.

While this data indicates we are entering a period of “slowdown”, it is also very important because OECD is believed to predict economic turning points six months in advance.

Howard Archer, economist at HIS Global Insight described the outlook as “increasingly worrying”.

He also commented: “The indicator is now getting down perilously close to the 100 points level that indicates only flat activity.

The global picture also worsened July, and of the G7 countries, Canada, France and Italy are further into “slowdown” territory than the UK.

This was posted in Bdaily's Members' News section by Ruth Mitchell .