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PMI Consolidation Behind Contractions
Differential surprises in the Nov-22 PMI surveys still reinforced the global trend towards falling activity. The US drop crystallised the convergence risk we flagged last month.Levels are consistent with broad …
UK Costs Pushing More Inflation
Inflation surprises continue to skew higher as prices remain far below where firms would like them. Additional cost shocks have prevented the gap from closing at all yet.Government policy encourages …
UK: Retail Rebounds to Still-Bleak Trends
Retail sales rebounded slightly with the normalisation of working days after the Queen’s funeral. It also appeared to draw support from Amazon’s Prime Early Access sale.An end to that short …
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