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31st Jul 2023 16:22U.K., Daily Monitor

  • Mortgage approvals lag changes in quoted rates by a few months; June’s pick-up will not be sustained.
  • The key story remains that falling mortgage lending is reducing liquid asset growth and spending resources.
  • Households likely will save more, but a solid upturn in real incomes will enable them to spend more too.

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Keywords for: 1 August 2023 UK Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence