UK Datanote: U.K. Official House Price Index, January

• In one line: The downturn is gathering momentum.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Labour Market Data, January/February 2023

• In one line: The clear slowdown in wage growth strengthens the case for an MPC pause.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. International Trade, January 2023

• In one line: The overall trade deficit likely will continue to narrow this year. 

Gabriella DickensU.K.

UK Datanote: U.K. GDP, January

• In one line: Quarterly GDP still likely to drop in Q1, despite January’s rebound. 

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Money & Credit, January 2023

• In one line: Too soon to call a decisive shift in the willingness of households to save less and borrow more.  

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Public Finances, January 2023

• In one line: Much lower than expected borrowing this year broadens the Chancellor’s options.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Retail Sales, January 2023

• In one line: Retail sales likely haven’t hit a floor yet. 

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Consumer Prices, January 2023

• In one line: Core price rises have slowed sharply, supporting an MPC pause next month.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Labour Market Data, December/January 2023

• In one line: A clear slowdown in private-sector wage growth boosts the chances of no further rate hikes.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. RICS Residential Market Survey, January 2023

• In one line: Housing market activity still is being hit by elevated mortgage rates.

Gabriella DickensU.K.

UK Datanote: U.K. BRC Retail Sales Monitor, January 2023

• In one line: Sales volumes likely fell further in January, but a late 2023 recovery is coming into view.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. S&P Global/CIPS Construction Survey, January 2023

• In one line: The downturn progresses; the upturn in builders’ optimism looks premature.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Car Registrations, January 2023

• In one line: Car sales slip again, as the squeeze on households’ real incomes intensifies. 

Gabriella DickensU.K.

UK Datanote: U.K. S&P Global/CIPS Services Survey, January 2023

In one line: Still consistent with a mild recession.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. S&P Global/CIPS Manufacturing Survey, January 2023

• In one line: The downturn is slowing, but is not over yet.

Gabriella DickensU.K.

UK Datanote: U.K. Nationwide House Prices, January 2023

• In one line: House prices continue to fall.  

Gabriella DickensU.K.

UK Datanote: U.K. CBI Distributive Trades Survey, January

• In one line: Excess inventory points to much slower increases in goods prices ahead.

Gabriella DickensU.K.

UK Datanote: U.K. CBI Industrial Trends Survey, January

• In one line: A worsening downturn, but manufacturers are starting to plan for an eventual pick-up.

Gabriella DickensU.K.

UK Datanote: U.K. Flash PMIs, January 2023

• In one line: Downturn still underway, in contrast to the emerging resilience in the rest of Europe.

Gabriella DickensU.K.