With retailing and manufacturing both very weak, the fact that services are slowing is particularly worrying.
More Quotes from Ian McCafferty:
Only two of the 10 industry groups surveyed this month - chemicals and metal products - expect prices to rise in their sector over the coming three months. Cost pressures from high oil and transportation prices will only serve to depress profits further,Ian McCafferty
Christmas, in retailing terms, is coming later and later each year as consumers play chicken with the high street and delay their spending in the expectation of late price cuts as the big day draws nearer.
Ian McCafferty
The increase in business with private individuals in the past three months is striking, and partly reflects the pick-up in the housing market from last year's low.
Ian McCafferty
The Bank has chosen to follow a steady course. This is particularly understandable given current mixed economic signals. The slightly less negative recent news from the housing and retail sectors contrasts with increasing pressures on manufacturers from the high cost of fuel and materials. The MPC should stay alert to further weaknesses in the economy and must remain on standby to cut rates over the coming months.
Ian McCafferty
A combination of weak consumer spending and challenging world markets is weighing on UK manufacturing.
Ian McCafferty
We understand that the MPC must make difficult choices. But there is a clear risk that without corrective action the upward trend in unemployment would accelerate. We continue to believe that a cut in interest rates will be needed in the next few months, and we urge the MPC to consider early action.
Ian McCafferty
Readers Who Like This Quotation Also Like:
Based on Topics: Facts QuotesThat's the great thing about entering a convent: There are things that you simply can't do, so you don't have to worry about them.
Lars von Trier
They tell you that you'll lose your mind when you grow older. What they don't tell you is that you won't miss it very much.
Malcolm Cowley
We can certainly go further than cats, but why should it be that our brains are somehow so suited to the universe that our brains will be able to understand the deepest workings?
Brian Greene