Howard Archer

Howard Archer
demand domestic fourth goods imports month oil rose successive suggesting surprised uk upside
UK imports of goods excluding oil ... rose for a fourth successive month in February, and by substantial 4.5 percent, suggesting that domestic demand may have surprised on the upside in the first quarter.
consumer equity mortgage peak reduced since spending weighed
The markedly reduced mortgage equity withdrawal since its fourth-quarter 2003 peak has undoubtedly weighed down significantly on consumer spending since mid-2004.
borne case christmas consumer cut early emerging hard healthy interest picture rate reasonably seems spending underlying
The underlying picture that seems to be emerging is that consumer spending will be reasonably healthy over the Christmas period. If borne out by hard data, this dilutes the case for an interest rate cut early in the New Year.
consumer energy feeding high housing looks months oil prices remain round second sidelines spending strength
The MPC could remain on the sidelines for some months to come as it monitors the strength of consumer spending and the housing market, and also looks to see if high oil and energy prices are feeding through to have second round inflationary effects.
although bank consumer cut door early england interest keeps levels open prefer rate spending strength wage wait
This (CPI data) very much keeps the door open for an interest rate cut in February, although the Bank of England may still prefer to wait while it monitors the strength of consumer spending and wage settlement levels early in 2006.
belief consumer february fourth performance quarter relatively seen spending strong survey sustain unable
The February CBI survey reinforces our belief that consumer spending will be unable to sustain the relatively strong performance seen in the fourth quarter of 2005.
christmas consumers december families held inflated opening performance reinforce spending suspicion themselves treat
If this is confirmed, it will reinforce our suspicion that the December performance was inflated by many consumers opening their wallets to treat their families and themselves at Christmas having held back their spending over much of 2005.
consumer economic european hard improvement link marked past spending weak
The consumer is the weak link in the European economic upturn story. We're past the worst, but it's hard to see a marked improvement in spending coming.
confidence consumer near spending term
Consumer confidence is faltering anew, which does not bode well for spending in the near term at least.
avoid brown finances guarantees hikes january major public spending strength tax
The strength of the public finances in January effectively guarantees that Brown will be able to avoid making any major tax hikes or significant spending cutbacks in March's budget.
belief case consumer growth healthy interest november picking rate retail sales spending
Pretty healthy retail sales growth in November reinforces belief that consumer spending is picking up to some extent, and reduces the case for a near-term interest rate cut.
below data features headline positive
Below the headline data there are some positive features that should not be overlooked.
accelerate basis believe buyer doubtful floor higher highly house interest keeping likely move prices remain soon start sustained thereby time
This is likely to put a floor under house prices, but we remain highly doubtful that house prices will move substantially higher on a sustained basis any time soon. If house prices start to accelerate markedly, we believe buyer interest will soon diminish, thereby keeping a lid on prices.
boosts clear coming december demand domestic economic hopes improvement kick months sentiment support
The clear improvement in economic sentiment in December boosts hopes that domestic demand will increasingly kick in over the coming months to support growth.