UK: Industrial Bounce-Back Begins in May-20
The UK manufacturing PMI rebounded by 8.1-points in May-20 to 40.7, while the output balance rose 18.7-points to 35. Resurgent demand from...
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UK: Scaling the Apr-20 Sales Hit to GDP
Retail sales collapsed by 18% m-o-m in Apr-20 (15% ex-fuel), taking the total decline to 22%. The overall hit appears to closely coincide with the...
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UK: Still Defying Dismally Dire Expectations
The unemployment rate dipped back to 3.9% in March contrary to widespread expectations for a rise. Low response rates seem to have biased this...
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UK: Collapse Less Apocalyptic than Feared
UK GDP’s collapse in Mar-20 did not match the almost apocalyptic depths that the Consensus feared. Its 5.8% m-o-m decline is dire, but close to my...
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Conservative FX Markets Testing (Some) Extremes
The majority of major developed and Emerging Market currencies have contnued to trade in narrow ranges versus the US Dollar in the past three...
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