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18th Jul 2024 18:59UKWeekly Monitor

  • Cooler weather in June led to a 1.2% month-to-month fall in retail sales volumes.
  • We think the ONS data exaggerate the drop in retail sales because surveys suggest a stronger reading.
  • The new government will likely borrow £10B-to-£20B a year more and raise taxes to fund more spending.

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Keywords for: 22 July 2024 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence