UK Publications
Below is a list of our UK Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep
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Samuel Tombs
- Services CPI inflation likely rose to 6.6% in November, from 6.5%, but undershot the MPC’s 6.9% forecast.
- Surveys point to an ongoing slowdown in service price rises; the energy price shock has filtered through...
- ...But accommodation services and TV subscription prices likely picked up in November.
Samuel TombsUK
- In one line: Consistent with unemployment rising more quickly than the MPC expects.
Samuel TombsUK
- Recent CPI inflation and wage data have undershot the MPC’s expectations...
- ...and it will judge that sterling’s appreciation will offset the boost to inflation from lower rate expectations.
- But Mr. Bailey has repeatedly pushed back against the fall in rate expectations; don’t expect a dovish tone yet.
Samuel TombsUK
- We think GDP rose by 0.1% month-to-month in October, despite disruption from Storm Babet.
- The composite PMI points to a decline in activity, but we think it has been excessively weak recently.
- Output in the health sector likely increased again, driven by a pick-up in Covid booster vaccinations.
Samuel TombsUK
- Employee numbers likely were broadly unchanged month-to-month in November.
- PAYE figures and ONS survey data point to a further loss of upward momentum in wages in October...
- ...But rises in the Real Living Wage and public- sector pay likely supported growth temporarily
Samuel TombsUK
- In one line: Consistent with a modest revival in retail sales; expect a fuller recovery in 2024.
Samuel TombsUK
- Redundancy notifications jumped in mid-November; the rise isn’t just due to one big business failure.
- Both the Adzuna and Indeed measures of job vacan- cies also have fallen during the fourth quarter.
- Some measures of employment intentions are robust, but job hoarding might ease as unemployment rises.
Samuel TombsUK
- CPI inflation likely fell to 4.4% in November, from 4.6% in October, remaining 0.2pp below the MPC’s forecast.
- BRC and Eurozone data both point to further falls in food and core goods CPI inflation.
- Motor fuel CPI inflation also declined in November; surveys point to slowing service price rises too.
Samuel TombsUK