The consumer is the weak link in the European economic upturn story. We're past the worst, but it's hard to see a marked improvement in spending coming.
More Quotes from Howard Archer:
The GDP data (is) unlikely to be weak enough to prompt the MPC into cutting interest rates in November,Howard Archer
Manufacturers will be hoping that healthier growth in the euro zone and a recently softer pound will increasingly feed through to give them with a significant boost in 2006.
Howard Archer
The Bank of England currently seems unlikely to act before August given that growth in the first quarter appears to have been around trend, while survey evidence indicates that inflationary expectations have risen recently.
Howard Archer
This is still a pretty benign report overall and broadly in line with Bank of England expectations contained in the February Inflation Report.
Howard Archer
The underlying picture that seems to be emerging is that consumer spending will be reasonably healthy over the Christmas period. If borne out by hard data, this dilutes the case for an interest rate cut early in the New Year.
Howard Archer
If this is confirmed, it will reinforce our suspicion that the December performance was inflated by many consumers opening their wallets to treat their families and themselves at Christmas having held back their spending over much of 2005.
Howard Archer
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