Pantheon Macroeconomics

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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.

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

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