Essex business coach says economy looks gloomy
It comes as GDP has shrunk for the second month in a row
The Chancellor, Rachel Reeves, admits she's 'disappointed' with the latest economic figures.
The Office for National Statistics says the UK's GDP shrunk by 0-point-1 percent in October, for the second month in a row.
It's the first time, since the pandemic, that the economy declined for two consecutive months.
Chelmsford business coach and owner of Visibility SEO digital agency, Peter Boolkah, said: “We saw GDP slow considerably in Q3. The UK economy feels really shaky. It feels like we're creeping back to a kind of Cold War economy. I’m half Czech and I remember that time when I used to visit my Grandma. Those times were full of uncertainty, nervousness and everyone bracing for bad news and that’s how it feels for all of us, including business owners now here in the UK.
"Confidence matters. Right now, it feels like the government’s playing mind games, setting low expectations so any improvement looks like a win. Add Trump and his import taxes into the mix, and it’s no wonder the numbers aren’t looking good. For the economy to bounce back, people need hope, clear leadership, and policies that actually work—not just spin".