020 7898 0500Carney’s comments on the weakening UK economy, which saw growth projections revised downward by 0.4%, alluded to the Beast from the East. The inference from this is that we can expect improved performance when the weather picks up. While there can be no doubt that sectors such as construction and retail suffered as a result of the inclement weather, it is less certain how other sectors would have fared if we had enjoyed better weather.
So, with several recent periods of sunnier times, perhaps we can all look forward to a better economic performance and hot, long evenings in the garden. Let’s hope so, because there is little to be positive about at the moment. Still, that rates were kept on hold is good news for UK households and tomorrow we will see the average earnings figures for March. Last time they outpaced inflation and the question is whether the gap can widen and put more money in all of our pockets.
There are no data releases today, so attention will turn to any political events from around the world.
