UK economy’s rebound halts in JulyLOSS OF MOMENTUM: As staff shortages and supply chain problems interfere with production, growth slowed to a rate much lower than expected by economistsBloombergThe UK economy barely grew in July, suggesting that the recovery from the COVID-19 recession is rapidly leveling off as consumer spending weakens and supply disruptions hamper production. GDP expanded just 0.1 percent — one-tenth of the pace posted in June, the Office for National Statistics (ONS) said yesterday. The ONS cited staff shortages and supply chain problems as an impediment to production. Output in consumer-facing services fell by 0.3 percent in July, largely due a 2.5 percent fall in retail sales. “What’s concerning is that these numbers may not yet be showing the full effect of sustained supply chain bottlenecks.”

Source: Taipei Times September 10, 2021 15:56 UTC