Ellis Marshall Global: UK Economy Returns to Growth

Re-opening of UK car manufacturing operations trigger return to growth but Ellis Marshall Global
analysts warn of possible contraction in Q2.

Taipei, Taiwan, July 24, 2019 --(PR.com)-- After contracting by 0.4 percent in April, the UK economy
returned to growth in May when it grew by 0.3 percent. Analysts at Ellis Marshall Global explained that
the return to growth was likely caused by UK car manufacturers reopening their production operations
after an early shutdown in April.

Anticipating possible disruption during the original Brexit period, a number of UK car companies chose
to temporarily shut down their operations in April, causing the economy to contract. After the UK's
departure from the EU was delayed, car manufacturers reopened and triggered the modest return to
growth.

However, Ellis Marshall Global analysts reported that levels of car production are still relatively low
when compared with the first quarter of this year and June's figures will need to show strong growth to
stave off contraction in the period from April to June.

Analysts at Ellis Marshall Global have expressed concern that the UK economy may not fare well during
the second quarter of this year. Disappointing sales figures, recently released by the Office of National
Statistics, indicate that the UK economy is slowing as consumers grow more reluctant to spend due to
Brexit uncertainty.

If the British economy does contract in the second quarter, it will mark the first quarterly contraction in
more than seven years. Although single month data can be unreliable, Ellis Marshall Global analysts say
that rising uncertainty over the eventual outcome of Brexit combined with a global economic slowdown
could certainly lead to second quarter contraction.

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Contact Information:
Ellis Marshall Global
Andrew Saxon
886277374700
Contact via Email
www.ellismarshall.com

Online Version of Press Release:

You can read the online version of this press release at: https://www.pr.com/press-release/790412

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