UK: Recovery Stalling Before Winter Winds
GDP growth slowed further in August to only 2.1%, which was under half the expected rate. Such sequential slowing reinforces my view that the...
474 Views
UK: Winter Is Coming to Crush the Recovery
 second wave of the Covid-19 pandemic is motivating new activity restrictions, which seem set to get tighter as seasonality raises infections. I...
566 Views
UK: Retail Faces Painful Consumer Awakening
Retail sales grew again in August to sit 4% above pre-Covid levels. It remains supported by the rotation away from the greater value-added...
402 Views
BoE: More QE in Nov-20, Not Negative Rates
The BoE MPC voted unanimously in favour of no policy change at its September meeting, while focusing on the economic impact of Covid and Brexit...
360 Views
UK: Puny Pass-Through of VAT and EOHO
UK inflation data delivered another upside surprise in Aug-20 as restaurant prices were resilient again. Puny pass-through of EOHO and VAT should...
348 Views