UK Economics Chart Pack Growth appears to have ticked up in Q3 The Markit/CIPS all-sector output PMI was more or less unchanged in Q3 compared to Q2, consistent with GDP growth remaining steady at 0.4% q/q. However, we think that growth was a little bit stronger... 4th October 2018 · 1 min read
UK Economics Chart Pack The consumer sector gains momentum in Q3 Retail sales volumes rose in August despite the boost to sales from July’s warm weather and the World Cup unwinding. Indeed, while food sales fell in August, this was more than made up for by the... 21st September 2018 · 1 min read
UK Economics Chart Pack Services sector makes up for industry’s weakness The survey evidence suggests that the economy has maintained its momentum in Q3 thus far. The improvement in the Markit/CIPS services survey in August came as a bit of a relief after the recent run of... 6th September 2018 · 1 min read
UK Economics Chart Pack Spending growth remained subdued in Q2 The stronger-than-expected 0.7% monthly increase in retail sales volumes in July took the annual growth rate up from 2.9% to 3.5% and suggests that some recovery in consumer spending growth is in the... 16th August 2018 · 1 min read
UK Economics Chart Pack Stronger momentum in spending growth June’s retail sales figures were a little weaker than expected, with sales volumes falling by 0.5% on the month. However, some fall back in June always looked likely after two consecutive large... 19th July 2018 · 1 min read
UK Economics Chart Pack Signs of a rebound in Q2 The improvement in all three Markit/CIPS PMI surveys in June provided further signs that the economy has rebounded after the weak start to the year. Indeed, the all-sector PMI rose from 54.3 in May to... 5th July 2018 · 1 min read
UK Economics Chart Pack Spending recovery now underway The rebound in retail sales volumes so far in Q2 has provided us with some encouragement that consumer spending growth has regained some pace after the weak start to the year. Meanwhile, wage growth... 14th June 2018 · 1 min read
UK Economics Chart Pack Signs of a consumer revival The news on the economy has improved considerably over the past few weeks. Indeed, May’s PMI surveys suggest that GDP growth could accelerate to 0.4% or so this quarter, up from 0.1% in Q1. Meanwhile... 5th June 2018 · 1 min read
UK Economics Chart Pack Economy makes a stuttering start to Q2 After a disappointingly-weak Q1, the economy looks to have made a pretty slow start to Q2. Admittedly, the measly 0.1% expansion in GDP in Q1 was partly due to weather effects. However, there are... 3rd May 2018 · 1 min read
UK Economics Chart Pack Outlook for real pay brightens Abstracting from the effects of the snow, the big picture remains one of pretty feeble high-street activity. But we doubt consumer spending growth will weaken further. CPI inflation now appears to be... 19th April 2018 · 1 min read
UK Economics Chart Pack Growth suffers weather-related dip The National Accounts showed that the economy barely slowed at all in 2017. Annual growth, revised up from 1.7% to 1.8%, was only marginally lower than 2016’s 1.9% outturn. Since then, however, the... 5th April 2018 · 1 min read
UK Economics Chart Pack Continued weakness on the high street February’s retail sales figures showed that spending growth has been fairly feeble so far this quarter. As such, it would now take a monthly increase in excess of 2% in March to see sales in Q1 match... 22nd March 2018 · 1 min read
UK Economics Chart Pack Recovery in PMIs eases fears of continued slowdown Following a downward revision to quarterly GDP growth in Q4, from 0.5% to 0.4%, a deterioration in all three of the headline PMI balances in January raised concerns that growth had continued to slow... 6th March 2018 · 1 min read
UK Economics Chart Pack Sluggish start to the year for retailers It is always a challenge to get a proper reading of the underlying strength of consumer spending growth around this time of year, with changing seasonal sales patterns (including the introduction of... 16th February 2018 · 1 min read
UK Economics Chart Pack Economy loses some pace at the start of 2018 The survey evidence released so far paints a pretty downbeat picture for growth at the start of the year. Indeed, falls in the manufacturing, construction and services sector PMI left the all-sector... 6th February 2018 · 1 min read
UK Economics Chart Pack Spending suffers as inflation peaks December’s retail sales figures were pretty disappointing, suggesting that the sector grew by 0.4% in Q4 as a whole, half of Q3’s 0.8% rate. What’s more, growth in non-retail spending is likely to... 23rd January 2018 · 1 min read
