At this stage, we do not have clarity regarding the shape of the UK’s future relationship with the EU. Well-managed preparations are thus essential for dealing with frictions in the transition from the current situation to the eventual new equilibrium especially in the event that no transitional agreement is reached between the EU and the UK.
Drawing on the latest information, the evidence from various confidence surveys and indicatorbased estimates supports the assessment that robust economic growth has continued and that the situation in labour markets has improved further.