Pantheon Macroeconomics - Yesterday's labour market data delivered a further blow to hopes that consumers' spending will retain enough momentum for the MPC to press ahead and raise interest rates this year. The most striking development is the decline in year-over-year growth in average weekly wages to just 1.9% in December, from 2.9% in November.

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16 February 2017 Slowdown in Wage Growth Further Reduces 2017 Rate Hike Chances

By Samuel Tombs

Yesterday's labour market data delivered a further blow to hopes that consumers' spending will retain enough momentum for the MPC to press ahead and raise interest rates this year. The most striking development is the decline in year-over-year growth in average weekly wages to just 1.9% in December, from 2.9% in November.

Posted: 15th Feb 2017 in 'UK Documents'

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