We've seen higher inflation in the course of this year than perhaps was anticipated last year when wage deals were negotiated. Consequently that's eroded household purchasing power, and we've actually seen very sluggish consumer demand - which has been a big surprise.
More Quotes from Peter Dixon:
Weak Q4 GDP figures were one in the eye for those pushing for higher interest rates on the back of the recent increase in consumer and business sentiment.Peter Dixon
Clearly German business sentiment has been on a decline since May last year and what we are seeing now is that German manufacturers are really feeling the impact of the global slowdown.
Peter Dixon
This is primarily a political move designed to bolster his chances of being elected leader of the Conservative Party. Clarke was looking increasingly isolated and clearly he has had to shift his views.
Peter Dixon
A second half recovery has already been priced in and we are well into the quarterly reporting season. The economic data due out this week will be pivotal and if it does come in worse than expected, there is scope for downside.
Peter Dixon
I think the reason that the U. S. would not want to be seen to be backing off from the strong-dollar policy is that it gives the markets the license to sell the dollar. And I think that obviously if we see a weakening economy and a weakening currency, that poses all sorts of problems for the administration and for the Fed.
Peter Dixon
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