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23rd Jul 2023 20:04U.K., Daily Monitor

  • The composite PMI implies GDP will stagnate in Q3, but we still think modest growth is the likeliest outcome.
  • The prices charged balance of the services PMI points to the core services CPI slowing at a 4% annualised pace...
  • ...The deceleration supports a modest 25bp rate hike next month; a Q4 pause beckons if the trend extends.

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Keywords for: 25 July 2023 UK Monitor

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