GDP output holds up but comes in below forecast

The latest figures on GDP performance show a 1% year on year increase against a forecast of 1.1% and a quarterly increase of 0.3% against a forecast of 0.4%, although business investment is much better than forecast. 

Founder and CEO of REL Capital, Andy Scott, commented:

“The basket of economic performance indicators just published is a mixed bag but when viewed in context to a political dynamic that is more Carry On film than carry on as usual, the economy is holding up ok. GDP, arguably the most important measure of fiscal health, is still hanging on in there in positive territory. Kicking and screaming with it’s head just above the surface, for sure but still breathing nonetheless at a positive 1% up year on year and quarter to quarter.

In particular, construction output is better than the forecasters had expected by some way, as is overall business investment which, whilst flat in real terms, provides a further silver-lining versus expectation. Stiff upper lip and all that.” 

About Andy Scott

Founder and CEO of REL Capital, Andy Scott
Founder and CEO of REL Capital, Andy Scott

Andy Scott is the Maserati 100 winning entrepreneur and owner of nine businesses across the property development, transport and recruitment sectors, with a focus on the catering and construction sectors to name but a few.  

His specialism is buying distressed businesses and turning them around via REL Capital, his holding company. Consequently, his group now has revenues of over £30m annually.

From living on a boat during his uni years, before dropping out and building a successful business empire largely in the hotel trade, Andy lost everything in the 2008 crash but has since fought his way back to be one of the UK’s most successful and resilient businessmen.

Andy is a colourful character. A former nightclub doorman turned yacht owning tycoon, pilot and white-collar boxer who has never forgotten where he came from and continues to operate with the same core business values (and partners) as he did when he first started his journey.

He has appeared on TV and in the press as a business pundit many times including: 

BBC Radio 4’s The Bottom Line 

BBC Business Live

BBC’s CEO Secrets 

More about Andy’s story:  

The Times: When you’re down, I’ll take you out of administration

Evening Standard: Entrepreneurs: After weathering the blows, boxer Andy Scott is raising firms off the canvas

This is Money: ‘I built a property empire with a £5k windfall… and lost it all’

BBC: ‘I got wiped out, but I was determined to make it back’