‘Resilience with an asterisk’: Experts say it’ll be difficult to keep momentum goingpublished at 07:40 BST
Alex Daniel
Business reporter
Experts are generally agreeing that the consumer side of the economy – things like shops, pubs and other businesses – have done surprisingly well in the face of things like the Iran war.
That could be partly to do with the good weather this summer, according to Yael Selfin, chief economist at KPMG, who says consumers have weathered economic shocks “remarkably well”.
But experts also broadly agree that it will be difficult for this momentum to continue, especially with positives like the World Cup out of the way.
Suren Thiru, chief economist for the Institute of Chartered Accountants in England and Wales, calls this “resilience with an asterisk”, pointing out that these are all temporary factors rather than “genuine momentum”.
He says the “growing financial squeeze” sparked by the Iran war means this upturn will be “difficult to sustain”.
