UK Datanote: U.K. CBI Industrial Trends Survey, March 2025

• In one line: Trade uncertainty will continue to weigh on manufacturing sentiment and activity.

Elliott Laidman Doak (Senior UK Economist)UK

UK Datanote: UK GfK Consumers' Confidence Survey, March 2025

• In one line: Good fundamentals and bad news will continue to pull consumers’ confidence in opposing directions.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK RICS Residential Market Survey, February 2025

• In one line: Short-term volatility as stamp duty relief ends in April, but house prices will still rise 4% in 2025.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Report on Jobs Survey, February 2025

• In one line: REC’s recovery indicates that the labour market is stabilising.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Final Manufacturing PMI, February 2025

• In one line: Surging global uncertainty hammers manufacturing output, but watch rising price pressures.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK GfK Consumers' Confidence Survey, February 2025

• In one line: Strong wage growth and falling interest rates will keep supporting consumers’ confidence.

Rob Wood (Chief UK Economist)UK

UK Datanote: U.K. CBI Industrial Trends Survey, February

• In one line: Manufacturing orders tick up and price pressures fall in February, but the sector remains weak.

Elliott Laidman Doak (Senior UK Economist)UK

UK Datanote: UK RICS Residential Market Survey, January 2025

• In one line: Looming end of stamp duty relief causes volatility, longer-term house price outlook still looks solid.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Report on Jobs Survey, January 2025

• In one line: The labour market improved marginally in January but remains hobbled according to the REC.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Final Manufacturing PMI, January 2025

• In one line: President Trump’s tariffs will snuff out a nascent rebound in the PMI.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK GfK Consumers' Confidence Survey, January 2025

• In one line: Consumers’ confidence drops again in January as risks to the growth outlook build.

Rob Wood (Chief UK Economist)UK

UK Datanote: U.K. CBI Industrial Trends Survey, January

• In one line: Manufacturing orders bounce back, but activity remains chronically weak. 

Elliott Laidman Doak (Senior UK Economist)UK

UK Datanote: UK RICS Residential Market Survey, December 2024

• In one line: House price inflation of 5% in 2025 according to the RICS.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Report on Jobs Survey, December 2024

• In one line: Payroll tax hikes hit employment, but the REC survey likely exaggerates the drop and wage growth rises.

Rob Wood (Chief UK Economist)UK

EZ Datanote: Industrial Production & Consumers' Spending, France, November 2024

In one line: Better than feared. 

Claus Vistesen (Chief Eurozone Economist)UK

UK Datanote: UK Final Manufacturing PMI, December 2024

• In one line: The manufacturing PMI drops in December as demand weakens and sentiment sours.

Rob Wood (Chief UK Economist)UK

UK Datanote: U.K. CBI Industrial Trends Survey, December

• In one line: Output and inflation head in opposite directions, leaving the MPC with a difficult trade-off.

Elliott Laidman Doak (Senior UK Economist)UK

UK Datanote: UK GfK Consumers' Confidence Survey, December 2024

• In one line: Consumers’ confidence grinds higher in December.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK RICS Residential Market Survey, November 2024

• In one line: The RICS roars higher as buyers rush to beat stamp duty changes and the MPC’s second rate cut feeds through.

Rob Wood (Chief UK Economist)UK

UK Datanote: UK Report on Jobs Survey, November 2024

• In one line: The REC weakens in November as the Budget tax hikes bite.

Rob Wood (Chief UK Economist)UK