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16th Sep 2022 14:31U.K., Weekly Monitor

  • The drop in August’s retail sales volumes was below consensus, but almost matched our forecast.
  • The weakness was broad based; consumers cut back on both essential and discretionary goods.
  • The larger-than-consensus fall makes a 50bp increase in Bank Rate this week more likely than a 75bp hike.

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employment energy government household goods housing market July May mortgage mpc October ois prime day rate hike real incomes recession refinancing retail sales September

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Keywords for: 20 Sept 2022 UK Monitor

employment, energy, government, household goods, housing market, July, May, mortgage, mpc, October, ois, prime day, rate hike, real incomes, recession, refinancing, retail sales, September, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence