UK Datanote: U.K. MPC Decision & Minutes, March

• In one word: Overkill.

Samuel Tombs (UK Economist)U.K.

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

• In one line: Producers are slowing price rises in the face of weak demand.

Samuel Tombs (UK Economist)U.K.

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

• In one line: House prices will continue to fall.

Gabriella DickensU.K.

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

• In one line:  A return to sustained growth isn’t likely yet, given the outlook for housebuilding.

Samuel Tombs (UK Economist)U.K.

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

In one line: GDP probably fell in Q1, despite the rise in the composite PMI. 

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. S&P Global/CIPS Manufacturing Survey, February 2023

• In one line: The downturn in the manufacturing sector is easing.

Gabriella DickensU.K.

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

• In one line: A recovery in February likely will prove a false dawn.  

Gabriella DickensU.K.

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

• In one line: Considerably more downbeat than the PMI survey. 

Gabriella DickensU.K.

UK Datanote: U.K. GDP, December & Q4

• In one line: A recession in all but name. 

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. 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. 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. MPC Decision, Minutes & Monetary Policy Report, February

• In one line: Low medium-term inflation forecasts signal the MPC doesn’t intend to hike rates any further.

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. Money & Credit, December 2022

• In one line: Mortgage approvals are unlikely to rebound quickly and completely after Q4’s collapse.

Samuel Tombs (UK Economist)U.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. RICS Residential Market Survey, December 2022

• In one line: The housing market is continuing to succumb to higher mortgage rates. 

Gabriella DickensU.K.

UK Datanote: U.K. S&P Global/CIPS Construction Survey, December 2022

• In one line: Builders move to reduce employment, mirroring trends in the wider economy. 

Samuel Tombs (UK Economist)U.K.