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12 matches for " bad weather":
The 1.2% month-to-month fall in retail sales volumes in March undoubtedly was due mostly to the bad weather.
The March money and credit figures provide more evidence that the economy's weak start to the year won't be just a blip.
Today's housing market data likely will look soft, but will probably not be representative of the underlying story, which remains quite positive.
Eurozone consumers had a slow start to the second quarter. Retail sales increased a modest 0.1% month- to-month in April, but the March headline was revised up by 0.3 percentage points, and the year-over-year rate increased by 0.2pp to 1.7% due to base effects.
Last week's official data supported our forecast that GDP growth likely will slow further in Q1, suggesting that a May rate hike is not the sure bet that markets assume.
We expect the flash reading of Markit's composite PMI, released today, to print at 52.4 in February, below the consensus, 52.8, and January's final reading, 53.3, albeit still in line with last month's flash.
The flash readings of the Markit/CIPS surveys in February provide reassurance that GDP is on track to rebound in Q1, despite disruption to the global economy caused by the COVID-19 outbreak and bad weather in the U.K. this month.
CPI inflation surprised to the downside in April, falling to 0.3% from 0.5% in March. Both the consensus and ourselves expected the rate to hold steady. Nearly all of the surprise, however, was in airfares and clothing inflation, which were depressed, to a greater extent than we anticipated, by the shift in the timing of Easter and bad weather, respectively.
The widespread view, which we share, that GDP will rebound in Q2 following the disruption caused by bad weather in Q1, was supported yesterday by the E.C.'s Economic Sentiment survey.
In one line: Bad weather has pushed inflation up, temporarily.
Chief US Economist Ian Shepherdson attributes bad weather to February US Retail Sales
Chief U.K. Economist Samuel Tombs on U.K. Retail Sales in February
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