UK Economics

UK Economic Outlook

18 October, 2017

Consumers surviving the squeeze

Consumers appear to be riding out the real pay squeeze well, supporting our view that spending growth will remain subdued, rather than collapse. And it shouldn’t be too long before the inflationary effect of sterling’s fall fades, putting consumer spending on a firmer footing. Admittedly, there has been little sign that net trade has been providing much of an offset to the consumer slowdown. But we still think that some boost should come through soon. Meanwhile, the Monetary Policy Committee

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