Week in Review - 27th May, 2011

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↓ Public Sector FinancesPublic sector finances worsened in April, with borrowing significantly higher than had been expected as a result of stronger government spending, and slightly weaker tax receipts. The deficit was the largest April deficit on record.
↔ GDPThe figure for GDP growth in the first quarter of 2011 was unrevised, at 0.5%. Although household spending and business investment fell, net trade improved considerably.
↓ Business investmentBusiness investment fell 7.1% in the first quarter of 2011. Manufacturing investment also fell, by 1.2%. However, investment by manufacturers was 14.8% higher than at the same point in 2010.
↑ GfK NOP Consumer Confidence The GfK NOP consumer confidence index jumped steeply in May, rising ten points to -21. This was the second-largest one-month rise in the survey's history. There are several temporary factors such as the Royal wedding and bank holidays which could have contributed to this, so it remains to be seen whether this will be sustained.
The week ahead
Wed 1st: Manufacturing PMI, lending to individuals


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