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21st Jun 2023 20:21U.K., Weekly Monitor

  • The composite PMI points to quarter-on-quarter GDP growth of 0.3% in Q2, but a flat outturn is more likely.
  • Manufacturing output prices now are falling, and services price rises have slowed to a 5% annualised rate...
  • ...But the MPC hasn’t said how much progress it needs to pause; we think it will hike rates eventually to 5.50%.

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Keywords for: 26 June 2023 UK Monitor

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