Flash Notes
GDP growth undergoes a material moderation in 2Q26
Real GDP contracted by 0.2% q/q in 2Q26, following revised growth of 0.4% q/q in 1Q26. This represents a material moderation in economic activity and ends six consecutive quarters of GDP growth. The outcome was slightly below our forecast of 0.0% and the market consensus of -0.1%. On an annual basis, growth moderated to 0.9% y/y, from 1.9% y/y in the previous quarter, with year-to-date growth at 1.4%, ahead of our full-year forecast of 1.2% for 2026.
08 September 2026
