Surveys underscore growth-inflation predicament
The message sent by May’s UK PMIs of an economy suffering a loss of momentum but still under strong inflationary pressures, captures the dilemma facing the MPC in advance of June’s interest rate decision. Rates are likely to rise again, but division among the MPC will probably widen.
What you will learn:
- The latest evidence from the consumer sector has not been all bad, with some signs of resilience among shoppers.
- Meanwhile, political ructions in the ruling Conservative Party are likely to have limited economic implications.