The services sector is as usual the primary driver of the economic recovery however the recovery is still exposed to downside risks such as geopolitical unrest in the Middle East and risks emanating from the Eurozone. There are potential upside benefits from the lower oil price, falling unemployment and real wage growth that should boost household spending and boost the economic recovery.
Category: Economy
The UK Economy – The Impact of Lower Oil Prices
Lower oil prices are positive for the UK economy, with most sectors benefiting, consumers seeing an actual difference in the prices they pay, expect an effect on the UK inflation rate. This reduction is viewed as temporary and oil prices are expected to gradually rise over the months ahead.
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