GDP rose by 0.2 per cent in the first quarter of 2017 according to the final estimate from the ONS. This sharper than expected deceleration in momentum is markedly below the Bank of England’s estimate of 0.5 per cent.Growth was driven by business services and construction, partially offset by declines in some consumer-focused industries, such as retail sales, which saw volumes plunge 1.5 per cent in Q1 2017.June’s MPC’s policy announcement saw Bank Rate left unchanged, but surprisingly, three members of the committee voted for an immediate increase of 25 basis points to 0.5 per cent. It was the nearest the MPC had come to a rate rise in over six years.
UK Consumer Report
Our UK Consumer Report analyses a range of UK consumer spending indicators on a quarterly basis. Subscribers have access to all data (analytical reports and interactive data) which includes consumer spending, housing market data, consumer confidence, consumer credit, household inflation, labour market statistics, wage growth, retail sales and more.
UK Consumer - Q1 2017
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The UK Consumer report includes:
|Summary and economic overview|
|Consumer spending overview|
|Consumer spending by category|
|Consumer spending growth (year-on-year)|
|Consumer spending growth (quarter-on-quarter)|
|Average spend by household|
|Consumer spending by region|
|Consumer spending by income decile|
|Consumer spending forecasts by category|