Morgan Stanley economist Bruna Skarica says UK monthly GDP appears to be benefiting again from strong white‑collar services, led by the information and communication technology (ICT) sector. ICT output is up 6.7% YoY and has risen 45.4% since Q4 2019, versus a 6% increase in overall value‑added over the same period. Sectors most exposed to rapid AI diffusion are simultaneously boosting GDP and productivity, she notes. Given the Bank of England said structural productivity growth was negative las

Morgan Stanley economist Bruna Skarica says UK monthly GDP appears to be benefiting again from strong white‑collar services, led by the information and communication technology (ICT) sector. ICT output is up 6.7% YoY and has risen 45.4% since Q4 2019, versus a 6% increase in overall value‑added over the same period. Sectors most exposed to rapid AI diffusion are simultaneously boosting GDP and productivity, she notes. Given the Bank of England said structural productivity growth was negative last year, Skarica says the bank should comment further on the trend this year.