UK economy in 'a lot better shape' than bleak figures suggest, fund manager says

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UK economy in 'a lot better shape' than bleak figures suggest, fund manager says
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The U.K. has thus far avoided a widely anticipated recession, and the economy may be holding up better than feared, according to veteran fund manager Andy Brough.

Figures published earlier this month showed that the U.K. GDP contracted by 0.5% in December, as the economy flatlined over the final quarter of 2022 to narrowly avoid a technical recession.

Real business investment in the fourth quarter of 2022 was only fractionally higher than before the Brexit vote, but recent trends look more hopeful, according to Kallum Pickering, senior economist at Berenberg. of 2023 that will last for five quarters, however, as energy prices remain high, and rising market interest rates restrict spending.

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