The fact that activity measures showed little, if any, recovery last month suggests that the weather may have been a less significant distortion to January’s data than was initially assumed. Although the end of the previous stamp duty holiday could still be acting as a drag on activity, the relatively weak data could also reflect a new mood of caution among buyers reflecting job insecurity and the increasingly uncertain economic and political outlook.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services