While the data is on the face of it good, the weakness evident in this report suggests that the consumer sector remains weak. Mixed messages for the Bank of England.
More Quotes from Gavin Redknap:
A rebound today will allay fears the consumer sector is continuing to struggle. The improvement in the housing market should bolster consumer spending.Gavin Redknap
It's good news. We know that the economy is starting to firm up, so we may see better jobs figures in the next few months.
Gavin Redknap
Brown will hope that his performance (on Wednesday) will help to change the public's perception of him from stern chancellor to benevolent potential future prime minister.
Gavin Redknap
Should consumer services start to reinvigorate as anecdotal evidence suggests, the outlook for the sector as a whole should improve substantially. The data is very much consistent with the Bank staying on hold next week.
Gavin Redknap
The Bank of England will be comforted by a report which shows a remarkable degree of balance in the economy with manufacturing reviving to contribute almost as much to growth as services. It won't alter their inclination to leave rates on hold for now.
Gavin Redknap
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