Dear Kizzi,
That UK GDP growth was slowing in October even as the level of output remained 8% lower than this time last year demonstrates the difficulties of getting back onto the pre-COVID trajectory, despite the introduction of a vaccine. The final quarter’s data will also bear the full impact of the second lockdown. We believe markets are right to look through much of this data for recovery in 2021, but it is a reminder that investors should not get ahead of themselves, especially as a Brexit deal remains elusive at this time.
Alastair George, Chief Investment Strategist at Edison Group
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