Spending on travel and leisure is supporting activity and has so far prevented the UK composite flash PMI from joining the euro-zone’s PMI in contraction territory. Perhaps even more encouraging was that price pressures towards the start of the inflation pipeline appear to be passed their peak. That doesn’t mean the Bank of England won’t raise interest rates further. But the debate is shifting from how high will inflation go to whether it will subsequently fall to the 2% target quickly or slowly.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services