Moneyfarm: UK Economy Shows Resilience Despite Geopolitical Risks

According to Jin10, Moneyfarm investment director Richard Flax said in a report that the UK economy has remained resilient despite challenges from the Middle East conflict and high oil prices. UK GDP grew 0.4% in July, above economists' consensus forecast of zero growth. Flax said technology-related sectors performed strongly, offsetting weakness in other areas, while investors remain cautious about whether the momentum can continue over the next few months amid rising energy costs, supply chain disruptions, and geopolitical tensions.