UK Datanote: U.K. Retail Sales, July, and GfK Consumer's Confidence Survey, September

• In one line: Warmer, dryer weather boosted sales.

Gabriella DickensU.K.

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

• In one line: Demand remains too weak to absorb all the properties being put up for sale.

Samuel Tombs (UK Economist)U.K.

UK Datanote: U.K. Report on Jobs Survey, August 2023

• In one line: Supporting a swift conclusion to the MPC’s tightening cycle.

Gabriella DickensU.K.

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

• In one line: Construction output is being supported by a strong commercial sector. 

Gabriella DickensU.K.

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

• In one line: Downturn gathering momentum. 

Gabriella DickensU.K.

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

• In one line: Not out of the woods, yet. 

Gabriella DickensU.K.

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

• In one line: A further step down in prices.

Gabriella DickensU.K.

UK Datanote: U.K. Report on Jobs Survey, July 2023

• In one line:  Labour market slack is increasing quickly, strengthening the case for the MPC to call it a day.

Samuel Tombs (UK Economist)U.K.

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

• In one line: Resilient demand from corporates is preventing a sharp downturn in overall construction output.

Samuel Tombs (UK Economist)U.K.

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

In one line: Bolstering the case for the MPC to hike Bank Rate by just 25bp today. 

Gabriella DickensU.K.

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

• In one line: No sign of recovery, yet.

Gabriella DickensU.K.

UK Datanote: U.K. CBI Industrial Trends Survey, July & Q3

• In one line: Demand likely is less resilient than the CBI’s survey suggests.   

Samuel Tombs (UK Economist)U.K.

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

• In one line: Buyers are being put off by elevated mortgage rates. 

Gabriella DickensU.K.

UK Datanote: U.K. Report on Jobs Survey, June 2023

• In one line:  Staff availability is improving rapidly, slowing sequential wage gains to a below-average rate.

Samuel Tombs (UK Economist)U.K.

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

• In one line: Higher mortgage rates have triggered a plunge in housebuilding.

Samuel Tombs (UK Economist)U.K.

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

In one line: Price rises appear to be slowing, but not quickly enough to avert further rate hikes.

Samuel Tombs (UK Economist)U.K.

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

• In one line: Output prices fall for the first time since 2016; expect them to drop further in H2.

Gabriella DickensU.K.

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

• In one line: A recovery in the manufacturing sector does not look imminent.  

Gabriella DickensU.K.

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

• In one line: Survey does not reflect the impact of the recent rise in mortgage rates.

Gabriella DickensU.K.

UK Datanote: U.K. Report on Jobs Survey, May 2023

• In one line: Wage growth is on track to return to rates consistent with the 2% inflation target by early next year.

Samuel Tombs (UK Economist)U.K.