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UK data backs rate hike, pity about the politics
The first release of the UK’s new monthly GDP series shows the economy expanding 0.3%MoM in May after a 0.2% increase in April. After a very poor 1Q18 this is good news with activity seemingly buoyed by better weather. The 3M on 3M change is at 0.2% versus the 0% figure seen in April. Within the report construction was the standout, growing 2.9%MoM while services were up 0.3%MoM. Industrial production fell 0.4% though. Overnight data from the British Retail Consortium and Barclaycard suggest this positive momentum continued into June with retail activity given an additional boost by the football World Cup. Spending ... (full story)
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- Raddy23
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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