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UK: Holidays Reduce Output in Jun-22
UK GDP contracted by 0.6% m-o-m in June after a downwardly revised 0.4% growth in May, which appears to confirm the distortions from the Diamond Jubilee holidays.Some positive payback should …
BoE: Market Tail Wags Policy Dog
The BoE hiked by 50bps to 1.75%, in line with market and consensus expectations, but contrary to our view that a lack of increased second round effects would mean 25bps.A …
Surveys Screeching Toward Recession
Global manufacturing is trending towards contractions, with the Euro area now leading the way for the worse. At least price pressures are easing in the process.Services are also being increasingly …
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