UK Data Response GfK/NOP Consumer Confidence (Dec.) The slight fall in the GfK /NOP composite index of consumer confidence is likely to be a blip. With a sustained recovery in real wages underway and employment growth set to remain strong, consumers’... 19th December 2014 · 1 min read
UK Data Response Retail Sales (Nov.) “Black Friday” discounts provided a significant boost to November’s retail sales volumes. However, the underlying picture looks strong too and we remain optimistic on the prospects for retail spending... 18th December 2014 · 1 min read
UK Data Response MPC Minutes (Dec.) & Labour Data (Oct./Nov.) The minutes of December’s meeting indicated that the MPC remains focussed on the outlook for domestic price pressures. As such, the latest labour data showing that pay growth is building but... 17th December 2014 · 1 min read
UK Data Response Trade (Oct.) While the trade deficit narrowed in October, we would caution against reading too much into this improvement. Trade data are very volatile and exporters look likely to struggle further over the coming... 10th December 2014 · 1 min read
UK Data Response Industrial Production (Oct.) October’s industrial production data provided further signs that UK manufacturers are struggling against a crippling combination of weak overseas demand and a strong pound. But lower oil prices should... 9th December 2014 · 1 min read
UK Data Response BRC Retail Sales Monitor (Nov.) November’s BRC Retail Sales Monitor provides more evidence that a combination of strong jobs growth, recovering pay growth and falling retail goods prices is invigorating the recovery in consumer... 9th December 2014 · 1 min read
UK Data Response CIPS/Markit Report on Services (Nov.) November’s Markit /CIPS services PMI provided reassurance that the UK’s recovery has remained strong despite a weaker global environment and is still not causing overall price pressures to build. 3rd December 2014 · 1 min read
UK Data Response Markit/CIPS Report on Manufacturing (Nov.) November’s Markit/CIPS manufacturing survey signalled that strong domestic demand is ensuring that the sector’s recovery does not grind to a halt in response to weak overseas demand. Moreover, falls... 1st December 2014 · 1 min read
UK Data Response GfK/NOP Consumer Confidence (Nov.) The GfK/NOP composite index of consumer confidence held steady in November and so continues to point to strong growth in household spending. What’s more, a gradual recovery in real pay and employment... 28th November 2014 · 1 min read
UK Data Response CBI Distributive Trades Survey (Nov. & Q4) The CBI Distributive Trades Survey provided another encouraging sign that retail sales have grown strongly Q4, despite unseasonably warm weather earlier this quarter. What’s more, the prospects look... 26th November 2014 · 1 min read
UK Data Response GDP Second Estimate (Q3) The second estimate of Q3 GDP indicated that the end of the squeeze on real pay is helping consumers to drive the overall recovery. What’s more, the prospects look bright for continued strong growth... 26th November 2014 · 1 min read
UK Data Response Public Finances (Oct.) The latest public borrowing figures showed that the economic recovery is still doing little to heal the public finances and so undermined the view that the books can be balanced through spending cuts... 21st November 2014 · 1 min read
UK Data Response Retail Sales (Oct.) October’s retail sales figures provided an encouraging sign that a combination of further strong gains in employment and the end of the real wage squeeze is supporting the consumer recovery. 20th November 2014 · 1 min read
UK Data Response MPC Minutes (Nov.) The minutes of November’s MPC meeting struck a more balanced tone than last week’s Inflation Report and signalled that it might not take much stronger news on wages or growth for other members to join... 19th November 2014 · 1 min read
UK Data Response Consumer Prices & Producer Prices (Oct.) The slight rise in CPI inflation in October should be a blip in its downward trend. Indeed, falling import and commodity prices look set to provide timely support to real incomes at a time when other... 18th November 2014 · 1 min read
UK Data Response Bank of England Inflation Report (Nov.) November’s Bank of England Inflation Report gave another strong indication that the Monetary Policy Committee (MPC) expects to keep interest rates on hold for a number of months yet and then increase... 12th November 2014 · 1 min read
