Davy Research

Market comment

REC employment survey adds to mixed signals on UK economy

DAVY VIEW

July’s Recruitment & Employment Confederation (REC) survey, released yesterday (August 8th), pointed to the fastest pace of UK jobs growth in two years. This follows similar signals from the UK services PMI, albeit also showing fragile business confidence held back by uncertainty on Brexit. In this context, we still expect sub-par UK GDP growth of 1.5% in 2017

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