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21st Feb 2024 19:00UK, Daily Monitor

  • PMI data point to GDP rising 0.3% quarter-to-quarter in Q1; firms expect the upturn to gather momentum ahead.
  • The services employment index exceeds its 1998-to-2019 average, bringing the risk of labour market re-tightening.
  • The recovery, however, has been supported by expectations of falling rates; the MPC needs to deliver some cuts.

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Keywords for: 23 February 2024 UK Monitor

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