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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 MAR CONSUMER CONFIDENCE -36 (= FCST); FEB -38
UK consumer confidence edged up by two points to -36 in March (in line with expectations) after the solid seven-point improvement in February. Despite recent improvements, all sub-indices remain severely depressed.- This implies that spending will remain pressured in the near term against the current economic backdrop of persistently high inflation and high interest rates.
- Some tentative signs of improvement were seen in the major purchase index, which was back around April 2022 levels (albeit also remaining deeply negative and thus unlikely to translate into actual spending for now).
- In line with this, UK February retail sales due at 0700 GMT are likely to only have been modest. Consensus is looking for +0.2% m/m, remaining contractive at around -4.8% y/y.
- The BOE's March minutes reiterated that UK GDP is expected to decline by -0.1% in Q1, with household consumption to remain subdued.
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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