Latest GDP figures have revealed that the UK economy shrank by 0.2 per cent in the second quarter of this year.
According to the Association of Independent Professionals and the Self Employed (IPSE), this was predicted by its index of freelancers’ confidence.
Ryan Barnett, IPSE’s Economic Policy Adviser, explained, “Today’s [Friday’s] concerning GDP figures are further evidence that the uncertainty of Brexit and global trade wars are holding the economy back.
He added, “Our last freelancer Confidence Index forecasted these figures. We are due to release our latest results in early September, and we expect they will continue to predict the UK’s overall economic performance. Working across a range of sectors, but particularly in financial services and construction, freelancers are highly exposed to the changes in our economy.”
“If their confidence and earnings continue to flatline, something will need to change.”
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