UK Data Response BRC Retail Sales Monitor (Oct.) The BRC’s measure of retail sales pointed to fairly subdued growth in spending in October. But we still think the outlook for the retail sector remains fairly favourable. Improving levels of consumer... 5th November 2013 · 1 min read
UK Data Response CIPS Report on Manufacturing (Oct.) October’s CIPS/Markit report on manufacturing suggested that output in the sector has continued to expand at a robust pace despite recent unhelpful developments such as sterling’s appreciation and the... 1st November 2013 · 1 min read
UK Data Response GfK/NOP Consumer Confidence (Oct.) Although it fell slightly, UK consumer confidence remained high in October and should continue to buttress growth in household spending, in spite of the headwinds presented by falling real pay and the... 31st October 2013 · 1 min read
UK Data Response CBI Distributive Trades Survey (Oct.) October's CBI Distributive Trades Survey results surprised on the downside, with sales growth at its lowest since June. But there are good reasons to think this was probably just a one-off and that... 28th October 2013 · 1 min read
UK Data Response Preliminary GDP (Q3) & Mark Carney’s Speech The preliminary estimate of Q3 GDP confirmed that the UK economy is currently enjoying a period of healthy and well-balanced growth. Meanwhile, Mark Carney announced last night in a speech reforms to... 25th October 2013 · 1 min read
UK Data Response CBI Industrial Trends Survey (Oct. & Q4) The CBI’s Industrial Trends Survey for October and the fourth quarter provided reassurance that the manufacturing recovery has not been knocked off course by sterling’s recent appreciation or the... 24th October 2013 · 1 min read
UK Data Response MPC minutes (Oct. 13) October’s MPC minutes yielded little for Bank of England watchers, with the Committee unanimously in favour of keeping policy unchanged. While unemployment is falling a little faster than the... 23rd October 2013 · 1 min read
UK Data Response Public finances (Sep.) Although the economic recovery has taken its time to come though in the fiscal numbers, September’s public finances data suggested that the Exchequer is now reaping the rewards of a stronger economy... 22nd October 2013 · 1 min read
UK Data Response Retail Sales (Sep.) September’s rise in retail sales volumes puts the consumer recovery back on track. While pressure on real earnings points to further growth being unspectacular, rising wealth and the boost to consumer... 17th October 2013 · 1 min read
UK Data Response Labour Market Data (Aug./Sep.) The latest labour market figures supported the MPC’s (and our own) view that even a fairly robust economic recovery will bring unemployment down only slowly. 16th October 2013 · 1 min read
UK Data Response Consumer Prices & Producer Prices (Sep.) While a touch disappointing, September's inflation figures were not a material blow to hopes that it will fall back to its target. And we still doubt that the inflation knockouts that underpin the MPC... 15th October 2013 · 1 min read
UK Data Response Ind. Prod. & Trade (Aug.), Credit Cond. Survey (Q3) August’s weak industrial production and trade figures signal that GDP growth in the third quarter might not be quite as strong as the business surveys have suggested. Meanwhile, the latest Credit... 9th October 2013 · 1 min read
UK Data Response BRC Retail Sales Monitor (Sep.) While September saw the BRC’s measure of retail sales growth slow, that month’s warm weather explains part of the weakness. And other indicators have been more positive. Nonetheless, the consumer... 8th October 2013 · 1 min read
UK Data Response CIPS/Markit Report on Services (Sep.) The CIPS business surveys continue to point to a sharp pick-up in GDP growth in the third quarter. Admittedly, they are the most upbeat of all the economic indicators at the moment. Nonetheless, GDP... 3rd October 2013 · 1 min read
UK Data Response CIPS Report on Manufacturing (Sep. 13) While September’s CIPS manufacturing survey softened slightly, the survey still points to a sector recovering at a rapid clip. However, with export growth weak relative to domestic demand and cost... 1st October 2013 · 1 min read
UK Data Response GfK/NOP Consumer Confidence (Sep.) Consumer confidence in September rose to its highest level since October 2007. With real incomes still falling, it is too early to be sure that this will lead to sustained growth in household spending... 27th September 2013 · 1 min read
