020 7898 0500Aside from the aforementioned publication of the Brexit backstop plan, the only release of note from yesterday was the Halifax house price index. It showed that prices increased by 1.9% in the three months to May 2018 which was as expected. However, on a monthly basis, prices increased by 1.5% against an expectation of a 1% gain. It is said that the continued strength of the labour market is supporting house prices.
There was some alarming news with the announcement that House of Fraser is set to close more than half of its UK stores. There are at least 6,000 jobs at risk. So far in 2018, more than 35,000 jobs in the retail and restaurant sector have been lost, as businesses continue to battle tough conditions and fall into administration.
It is an extremely quiet end to the week for UK economic data, but there will likely be much to discuss as we all try to unpick the Brexit backstop plan and whether it is a step forwards in the Brexit negotiations.
