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28th Mar 2022 18:00U.K., Daily Monitor

  • The latest data suggest that GDP increased by 0.9% in Q1, despite the Omicron hit at the turn of the year...
  • ...But lower health spending, an extra bank holiday and falling real incomes will weigh on the recovery in Q2.
  • The MPC, therefore, likely will refrain from raising Bank Rate later this year, after a final hike to 1.00% in May.

bank rate businesses composite pmi consumption covid-19 economy export orders gdp health index January June labour labour demand manufacturing manufacturing index March May mpc new export orders new orders new orders index October orders pmi q1 q2 real incomes services pmi services sector supply tax transport

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Keywords for: The Momentum Behind the Recovery in Q1 won't be Sustained

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