Here’s a Monday morning look ahead at the data and events relating to UK manufacturing.
CMA retail banking investigation
On Thursday, the Competition and Markets Authority will publish its long-awaited “retail banking market investigation” Interim Report. The CMA will release its provisional findings on the state of the financial sector informed by data and evidence gathered from hearings with relevant parties.
Based on its assessment of how far progress has gone vis-a-vis the market failures identified at the outset of the investigation, the CMA will propose a range of possible remedies. The proposed remedies will then be opened to consultation leading up to the Final Report set to be published in April 2016.
On Thursday we’ll see what’s happening with retail sales in the UK. For much of the last year, manufacturing has benefited from the strength of UK household demand, however, September’s manufacturing PMI pointed to a weakness in sales of consumer goods. So the question is: is the juggernaut that in the British consumer starting to slow?
Recent retail sales figures do point to a slowing in the pace of growth, nonetheless sales have been on a positive trajectory for some time now, with August marking the 29th consecutive month of year-on-year growth in volume terms. Last week’s labour market statistics suggest that there is room for further improvement as well, with a strong employment performance and wages continuing to post real growth. However, not all is rosy on the consumer front: GfK’s consumer confidence index dropped four points in September, with all five sub-measures pointing to a drop in sentiment.
On the blog this week:
George will a take a look at the outcome of the CMA investigation
- Zach will blog about the Chemicals manufacturing sector