Ey Item Club

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The UK government borrowed £35.9 billion in August as the coronavirus pandemic took its toll on the public finances, according to the latest figures released by the Office for National Statistics (ONS). 

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The UK has emerged into the third quarter of the year with robust month-on-month GDP growth of 6.6% in July, according to the latest figures from the Office for National Statistics (ONS). 

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Retail sales volumes saw further improvement in July of 3.6% month-on-month, as the sector benefitted from a full month of non-essential retailers being allowed to open, according to the latest figures from the Office for National Statistics (ONS). 

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The UK economy will not recover from the current recession until 2024, according to EY's economic forecaster, the EY ITEM Club.  The EY ITEM Club has said it is "unlikely" the economy will regain its fourth quarter 2019 size until 2024.

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