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Economic Briefing - April 2004

A monthly bulletin examining economic trends for engineering, manufacturing and technolog-based businesses
Last month’s decision to keep rates on hold was a finely balanced one and the MPC faces a similar dilemma in April. Inflation remains well below target but households’ appetite for borrowing seems insatiable.

However, we would want to avoid any policy action that would put upward pressure on Sterling. There were signs that the economy was becoming less consumer-dependent at the end of last year and it would therefore be appropriate for the MPC to wait and ensure this continues.

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inflation
laeding global and uk economic indicators
information and research
further information:
Lee Hopley
Economist

lhopley@eef.org.uk

related links
National StatisticsBank of England

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Economic Briefing: April 2004

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