LONDON, Sept 12 — The UK’s recession-threatened economy rebounded in July, data showed today, but is set to receive a further hit from a public holiday marking next week’s funeral of Queen Elizabeth II.
“More concerning, July’s GDP remains below the level seen in May, pointing to an overall contraction over the first two months of summer.” Britain usually has only one public holiday in early summer but the amount was doubled for the Jubilee. “That said, many businesses will be able to catch up work, as most of them did in June.” Pantheon is predicting the funeral to hit September GDP by 0.2 per cent.
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