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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
MNI (London)
UK JUN CONSUMER CONFIDENCE -24 (FCST -26); MAY -27
- UK consumer confidence improved for a fifth month in June, rising by three points to -24; two points stronger than consensus expectations.
- An upswing in personal finance expectations drove the improvement, alongside rising economic situation outlooks.
- Joe Staton, Client Strategy Director, GfK highlighted that "consumers are showing remarkable resilience in the face of inflation that is currently refusing to yield. If consumers continue to weather the current economic storm, then this will provide a firm foundation for getting back to growth".
- Yet the major purchase index moderated by one point to -25, implying that purchasing hesitancy is prevailing, halting improved sentiment from translating into a decent retail-sector rebound.
- Consensus is looking for a small May dip in retail sales of -0.2% m/m (-0.3% m/m ex fuel) in the data due at 0700 BST, foreshadowed by a similar move in the CBI survey (see here). This would reiterate that retail sales remain sluggish, despite the April boost (+0.5% m/m).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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