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21st Feb 2023 16:14U.K., Daily Monitor

  • The rise in the composite PMI to above 50 in February is not a game-changer for GDP; its track record is patchy.
  • The composite PMI only covers half the economy; retail sales and construction output both will fall in Q1...
  • ...While strikes in the public sector look set to subtract 0.15pp from quarter-on-quarter growth in GDP.

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Keywords for: 22 Feb 2023 UK Monitor

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