UK: Consumer Weakness Will Persist For Years, Not a Few Quarters

1 August 2017 The recent release of second quarter GDP data had something for everyone.  For the post-Brexit sceptics, the meagre 0.3% gain (following a similarly paltry advance in Q1) confirmed the economic recovery was faltering. Recently, weak consumer spending has been a major headwind, resulting from modest income growth and higher prices following sterling’s [...]

UK: Brexit — The Clock is Ticking, Loudly

22 June 2017 The Conservative Party’s failure to gain a majority of Parliamentary seats in the June 8 snap election has shifted the landscape on key policy issues.  In particular, Prime Minister Teresa May had asked the British electorate for a mandate to adopt an aggressive stance in upcoming Brexit negotiations, including walking away if [...]