Research Briefing | Sep 3, 2021

UK | Consumer caution hasn’t gone away

Consumer-caution-hasnt-gone-away

The latest money and credit data suggested caution on the part of consumers. Unsecured lending flatlined in July and households’ savings continuing to grow by more than pre-Covid norms.

What you will learn from this report:

  • Meanwhile, less momentum was evident in falls in August’s PMIs.
  • But the indices remained firmly in growth territory, while lower infection numbers and less stringent self-isolation rules should see the recovery pick up steam.
  • How much the economic recovery was held back by the resurgence of Covid infections in July and a rise in people instructed to self-isolate after being “pinged” by the NHS Covid app is difficult to gauge with certainty. But
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