1 Aug 2022 UK Monitor Will a Household Saving Drawdown Keep a Winter Recession at Bay?

Samuel Tombs (UK Economist)29th Jul 2022 15:48U.K., Daily Monitor, Weekly Monitor

Households saved much less and borrowed more in Q2; real spending, therefore, likely was unchanged from Q1.

On paper, households have ample scope to reduce their saving rate further, but we see several constraints.

Some already have depleted savings, credit conditions are tightening, and deleveraging will be more attractive.

BoE buyer demand car sales cbi cbi industrial trends survey construction construction pmi consumer confidence consumer credit consumer goods core cpi core cpi inflation core goods cpi cpi inflation credit credit conditions credit data deposits distributive trades survey energy ftse gfk consumer confidence government house prices house purchase interest rates July June loans manufacturers manufacturing manufacturing pmi May money and credit data mortgage mortgage approvals mortgage rates mortgages mpc ONS output price inflation pmi psnb q1 q2 q3 q4 real disposable incomes real incomes recession savings September services pmi stocks total orders unemployment unemployment rate vacancy data vat winter

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Keywords for: 1 Aug 2022 UK Monitor

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